Claim: Q: Is the Biden administration selling crude oil from the Strategic Petroleum Reserve to other countries? A: The oil is sold to eligible companies that make the highest offers. Some of the companies are U.S. subsidiaries of foreign companies, and some that purchased oil have then exported a portion to buyers overseas. Exports increase the global supply and still help with U.S. gas prices, experts told us.
Fact-check: U.S. Selling Oil from the Strategic Petroleum Reserve to the Highest Bidding Companies - FactCheck.org
Verdict: q: is the biden administration selling crude oil from the strategic petroleum reserve to other countries? a: the oil is sold to eligible companies that make the highest offers. some of the companies are u.s. subsidiaries of foreign companies, and some that purchased oil have then exported a portion to buyers overseas. exports increase the global supply and still help with u.s. gas prices, experts told us.
Organisation: FactCheck.org
Author: D'Angelo Gore
Date published: 2022-07-14T21:20:37