The Energy Department was quoted by the news source as saying that the US administration will not sign contracts in 2008 for the receipt and transportation of around 13 million barrels of crude oil to the US’s Strategic Petroleum Reserve (SPR) sites.
The US administration’s decision to suspend oil deliveries into the 727 million barrel-capacity SPR follows the passing of legislation by the US Congress requiring the government to stop oil deliveries into the reserve, to help lower fuel prices across the country, according to PetrolWorld.
