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Valero, Motiva Were Buyers in Biden’s Latest Oil Reserves Sale



Photographer: Caitlin O'Hara/Bloomberg

Valero Energy Corp.’s  trading division was the largest buyer of crude oil in the Biden administration’s second sale of emergency stocks that were part of the White House’s efforts to combat surging energy prices after Russia invaded Ukraine. 

Twelve companies were awarded all of the 30 million barrels of oil offered from the Strategic Petroluem Reserve, the Energy Department said Thursday. These are marked for May-July delivery. This sale is part of a larger release of 180 million barrels of reserve oil during May-October.