US DOE, IEA member countries releasing a total of 60 million barrels of oil from reserves
Green Car Congress
JUNE 23, 2011
As part of this effort, the US will release 30 million barrels of oil from the Strategic Petroleum Reserve (SPR). The IEA estimates that the unrest in Libya had removed 132 million barrels of light, sweet crude oil from the market by the end of May. The SPR is currently at a historically high level with 727 million barrels.
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