August 31, 2018 / 9:01 PM / a year ago

U.S. sells 11 mln bbls of oil from reserve to Exxon, five other firms

WASHINGTON, Aug 31 (Reuters) - The Trump administration said on Friday that six companies, including ExxonMobil Corp, Marathon Petroleum Corp, and Motiva Enterprises LLC bought a total of 11 million barrels of oil from the Strategic Petroleum Reserve, before U.S. sanctions on crude exports from Iran are expected to remove oil from the global market in November.

The sale of the oil from the reserve was mandated by previous law to fund the federal government. (Reporting by Timothy Gardner Editing by Bill Berkrot)

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