The U.S. Energy Department will begin buying oil for the strategic reserve, the first such purchase since a record 180 million barrels were drawn from stocks this year.

The US department will buy up to 3 million barrels of oil for delivery in February, a senior official told reporters, according to Reuters and News.ro.

President Joe Biden announced the sale of 180 million barrels of oil in late March to combat rising gasoline prices fueling inflation following Russia’s February invasion of Ukraine, the world’s largest exporter of the fossil fuel.

Sales of oil from the strategic reserve reduced inventories to about 380 million barrels, the lowest level since 1984, raising concerns about energy security.

“We will issue a request for the purchase of 3 million barrels of oil with delivery in February 2023,” the official said.

Contracts with energy companies will be concluded by January 13.

“This approach will allow fixing the price in advance when the companies submit their offers,” the official added.