U.S. to Sell 12 Million Barrels of Oil Just as Virus Hits Demand

Financial Post | Feb 28, 2020 at 3:16 PM
  • The U.S. will sell up to 12 million barrels of oil from its emergency government stockpile just as global crude demand takes a hit from the spreading coronavirus.
  • The crude would be delivered to U.S. Gulf Coast pipelines in April and May.
  • The Energy Department sale announced Friday is part of a regular drawdown schedule intended to raise $450 million for government programs in fiscal year 2020.