Fill 'er up; Trump orders U.S. to stock up oil reserve after price crash

Published: Mar. 13, 2020 at 11:18 PM CDT
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President Trump directed U.S. energy officials to start buying “large amounts” of oil to fill up the Strategic Petroleum Reserve after the biggest price crash in years.

Replenishing the SPR would enable the government to take as much as 77 million barrels off the world market.

Prices jumped after the announcement, but the buy will unlikely be able to offset the supply boost Russia and Saudi Arabia have promised in the coming month.

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