Us to release 30 million barrels from Strategic Petroleum Reserve
The Energy Department says the United States will release 30 million barrels from the Strategic Petroleum Reserve to make up for a disruption in supplies from the Middle East and North Africa.
The International Energy Agency will release 60 million barrels of oil from emergency stocks in the next 30 days to alleviate problems caused by the shutdown of Libyan crude exports by the civil conflict, a move that sent oil prices lower.