The Biden administration is asking Congress to cancel some required sales of strategic oil stocks intended to raise revenue, an ofocial with the US Department of Energy (DOE) told a Senate panel on Thursday. The revenue from this year’s record 180 million barrel emergency sale could cover the budgetary gap created by canceling future sales, Doug MacIntyre, the deputy director of the DOE's Ofoce of Petroleum Reserve, said at a hearing of the Senate Energy and Natural Resources Committee. Sales from this year’s emergency sale of crude from the US Strategic Petroleum Reserve (SPR) averaged $96 per barrel, he added.
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