The first purchase since this year's record 180 million barrel release from the stockpile, the U.S. Energy Department announced on Friday that it will start purchasing oil for the Strategic Petroleum Reserve (SPR). According to a senior official, the department will purchase up to 3 million barrels for delivery in February.

WION Fineprint | SPR: World's largest emergency oil stockpile | US

The US Energy Department said that it will begin buying back oil for the Strategic Petroleum Reserve, or SPR, the first purchase since this year's record 180 million barrel release from the stockpile.

World Business Watch: US begins buying back oil for strategic petroleum reserve

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WION Fineprint | SPR: World's largest emergency oil stockpile | US

World Business Watch: US begins buying back oil for strategic petroleum reserve