The United States aims to buy 60 million barrels of crude oil as it resupplies its oil reserve, CNN reported on Thursday. According to the report, it would be the first time since the early 2000s that the US has decided to buy a large amount of oil to replenish the reserve.
An Energy Department official said the administration is aiming to launch the plan in the fall. The delivery "of the first tranche of 60 million barrels will take place in unspecified future years," the report said, as the department will wait for "significantly lower" prices and demand for oil.
