U.S. Seeks More Crude for Strategic Reserve After 2014 Sale - Bloomberg Business:
"The U.S. government wants to buy up to 5 million barrels of crude to store in its strategic reserve on the Gulf Coast.
The Energy Department wants the crude delivered to its Bryan Mound storage cavern near Freeport, Texas, in June or July, according to a pre-solicitation notice posted on federal websites today. The purchase follows a 5 million-barrel test sale last spring, when oil prices were nearly double what they are now.
The Strategic Petroleum Reserve purchase comes as booming shale oil production has pushed private oil inventories in the U.S. to 449 million barrels, the most in records dating back to 1982. The reserve has 691 million barrels and 36 million barrels of empty space."
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