Biden to Sell 26 Million More Barrels , From the Strategic Petroleum Reserve.<br />Biden to Sell 26 Million More Barrels , From the Strategic Petroleum Reserve.<br />Reuters reports that the Biden administration made the announcement on Feb. 13.<br />The release was previously <br />mandated by Congress.<br />The Department of Energy considered canceling the sale since a record <br />180 million barrels were sold last year.<br />but that would have required <br />Congressional approval. .<br />The reserves have already been <br />at their lowest levels since 1983.<br />The 26 million oil barrels will be <br />delivered between April 1 and June 30.<br />The Department of Energy says it has a <br />three-part plan to refill the reserves over time.<br />It is also working with Congress to steer clear of "unnecessary sales unrelated to supply disruptions to strategically maintain volume.".<br />Since the announcement of the release of more crude, oil prices have fallen.<br />Brent crude futures dropped to $84.60 a barrel, <br />and U.S. crude futures dropped to $77.93 a barrel
