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US plans to overhaul emergency oil reserve

Modernising the underground salt caverns would allow for speedier releases

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Published Sun, Jun 12, 2016 · 09:50 PM

    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 Petroleum Reserve, or SPR, and details about its plans should be revealed in coming weeks.

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