Free Trial

OIL: US Energy Chief to Seek $20 Billion to Refill Oil Reserve: BBG

OIL

US Energy Chief to Seek $20 Billion to Refill Oil Reserve: Bloomberg

  • US Energy Secretary Chris Wright plans to seek up to $20 billion to fulfill President Trump's goal of refilling the nation's depleted oil reserve to its maximum capacity, Bloomberg News reported on Friday.
  • The initiative could take years and would restore holdings "just close to the top" to maintain efficient operating status, the report added, citing Wright in an interview in Louisiana after touring a natural-gas export plant.
78 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

US Energy Chief to Seek $20 Billion to Refill Oil Reserve: Bloomberg

  • US Energy Secretary Chris Wright plans to seek up to $20 billion to fulfill President Trump's goal of refilling the nation's depleted oil reserve to its maximum capacity, Bloomberg News reported on Friday.
  • The initiative could take years and would restore holdings "just close to the top" to maintain efficient operating status, the report added, citing Wright in an interview in Louisiana after touring a natural-gas export plant.