US speeds up return of oil to Strategic Petroleum Reserve-Energy Dept

The U.S. Department of Energy has sped up the return of four million barrels of oil to the Strategic Petroleum Reserve, from a previous exchange of crude to energy companies, as it seeks to replenish the stockpile after a record drawdown last year, it said on Friday.

Oil companies will now return the four million barrels to the reserve by February instead of this summer, it said. The Energy Department also said it aims to buy an additional up to three million barrels of oil by February for the reserve.

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