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US plans to overhaul emergency oil reserve

Modernising the underground salt caverns would allow for speedier releases
Monday, June 13, 2016 - 05:50
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The Strategic Petroleum Reserve holds 695 million barrels of crude, or what the entire country uses in about five weeks.

Freeport, Texas

THE United States boasts the world's largest stash of emergency oil supplies, yet the country's ability to influence global crude markets with releases from that reserve has waned.

The Obama administration hopes to fix that problem with an overhaul of the Strategic