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[The United States Ends Crude Oil Replenishment, With A Profit Of About $3.5 Billion] The Biden Administration Said On Friday That It Had Purchased The Last Batch Of Oil For The Strategic Petroleum Reserve (SPR). Previously, The United States Sold A Record Amount Of Strategic Petroleum Reserves In 2022 To Cope With The Rise In Oil Prices After The Russian-Ukrainian Conflict. The U.S. Department Of Energy Said It Had Purchased 2.4 Million Barrels Of Oil To Fill The SPR, Which Will Be Shipped To The SPR Base In Bryan Mound, Texas From April To May Next Year. The Department Said The Operation Exhausted The Department's Funds For Buying Back More SPR. The United States Sold 180 Million Barrels Of Crude Oil In 2022 To Raise Nearly $17 Billion In Emergency Revenue For Buybacks, But Congress Canceled About $2.05 Billion To Help Offset The National Deficit. The Biden Administration Repurchased 59 Million Barrels Of Oil At An Average Price Of Less Than $76 Per Barrel After Selling Oil In 2022, Far Lower Than The Price Of $95 Per Barrel In 2022. The U.S. Department Of Energy Said This Brought About $3.5 Billion In Profits
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