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U.S. to sell 8 million barrels of sweet crude from strategic reserves

Staff Writer |
The US government plans to sell up to 8 million barrels of light, sweet crude from three of the Strategic Petroleum Reserve's four sites later in January.

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First deliveries were planned for as early as February, a Department of Energy official said.

DOE plans to sell 3 million barrels from its Bryan Mound SPR site and 3 million barrels from its Big Hill site, both in Texas, and 2 million barrels from its West Hackberry site in Louisiana, according to the official, who spoke on the condition of anonymity.

The crude will be sold at multiple delivery points throughout the SPR system.

"Companies could make offers for oil coming out of one site only, for all three sites, for pipeline deliveries only for marine vessels or combinations of both," the official said.

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