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US to release oil from strategic reserve

Posted on 13 March 2014

The US has announced its first “test” sale of oil from its strategic petroleum reserve since Iraq invaded Kuwait in 1990, in a move that underlines its ability to respond to any energy market turmoil that might arise from the Ukrainian crisis.
The Department of Energy described the planned release of up to 5m barrels of oil, less than 1 per cent of the 696m barrels in the reserve, as intended “to appropriately assess the system’s capabilities in the event of a disruption”………………………………………..Full Article: Source


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