The US Department of Energy announced its intention to purchase 3 million barrels of crude oil for the Strategic Petroleum Reserve for delivery in August.
According to the ministry's statement on Monday, May 15, it requested bids be submitted by May 31.
This step comes after the Biden administration last year carried out the largest-ever sale of reserves of 180 million barrels, as part of a strategy to stabilize rising oil markets and combat high gasoline prices.
The ministry had announced that it would start buying oil back into reserves when prices are stable at $67 to $72 a barrel or less.
The sale angered Republicans, who said that the move reduced oil reserves to a degree that limits America's ability to face a supply crisis in the future.
The strategic reserve reached about 372 million barrels, which is the lowest level since 1983.
