Administration Considering Oil Stockpile Release
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The Bush administration is moving toward releasing oil from the nation&#39;s emergency stockpiles as a result of disruptions to production and imports caused by Hurricane Ivan.
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Two refiners will borrow crude oil  from the national emergency reserve to replace output lost due  to Hurricane Ivan and another oil major may be next to tap the  stockpile as prices near all-time highs.
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Ministers of the Organisation of Petroleum Exporting Countries expect oil prices to rise this week as they plan to demonstrate that they are serious about implementing
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The Bush administration announced Thursday it would provide US refineries with ``limited quantities&#39;&#39; of crude oil from the nation&#39;s emergency stockpile to help offset supply
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The Bush administration announced Thursday it would provide US refineries with &quot;limited quantities&quot; of crude oil from the nation&#39;s emergency stockpile to help offset supply
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Supply and demand in the oil market  are roughly in balance at the moment and current high prices  are due to the possibility of disruptions rather than any  shortage, a U.S. official said on Tuesday.
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Opec, the oil producers&#39; cartel, has taken the surprise step of urging the US to release stocks held in emergency reserves to calm the frantic crude market.
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Crude oil futures may decline next week on speculation the US is importing enough to boost inventories, easing concern about a shortage of winter fuel, according to a Bloomberg survey.
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US stockpiles of crude oil rose by 1.1 million barrels last week, the government reported Wednesday, coming in at half of what analysts had expected.
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Crude oil may rise this week on concern US inventories are falling and supply may be disrupted from Iraq and Russia, according to a weekly Bloomberg News survey of traders and analysts.
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SANTA FE, N.M.  - A Texas energy company may get  rights to drill in a pristine swathe of a New Mexico national  forest after a White House task force intervened on its behalf,  a move that has become a hot issue in the battleground state  before next week's presidential election.
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VIENNA : Limited spare capacity means that the ability of oil producers to meet the sharpest rise in demand since the 1970s is likely to be severely tested, according to experts attending an OPEC-sponsored seminar in Vienna.
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Shell and other oil companies sought loans from the US reserve after Hurricane Ivan disrupted oil imports and production. While the added supply from the Strategic Petroleum Reserve
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With oil prices close to $50 a  barrel, the Bush administration is set to allow oil refineries  to borrow crude from the government's emergency petroleum  stockpile to make up for supplies disrupted by Hurricane Ivan,  a congressional source briefed on the pending decision told  Reuters on Thursday.
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WASHINGTON Oil prices climbed toward $49 per barrel Thursday even as the Bush administration considered drawing crude from the US emergency stockpile and lending it to refiners whose supplies were disrupted by Hurricane Ivan.
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Crude oil in New York fell from a one-month high after a White House spokesman said the US may loan oil to refineries from the Strategic Petroleum Reserve to make up for supply disruptions caused by Hurricane Ivan.
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With enough CO2 injected into declining oil fields, the US could see its petroleum reserves quadruple.