US Urged to Use Emergency Oil Reserves
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OPEC&#39;s president has taken the unprecedented step of urging the United States to tap its emergency crude reserves to bring down world oil prices.
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The United States and Britain Thursday urged Japan to renew a mission to refuel coalition ships in the Indian Ocean as fierce opposition in parliament dimmed prospects of securing an extension before the deployment expires next month.
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With enough CO2 injected into declining oil fields, the US could see its petroleum reserves quadruple.
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Two major oil companies and a small  Louisiana refiner are negotiating with the U.S. Department of  Energy to borrow crude from national emergency reserves as  crude producers in the Gulf of Mexico slowly recover from  Hurricane Ivan, sources said on Friday.
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With oil near $50 a barrel, the Bush  administration said on Thursday it will negotiate with  refineries that want to borrow oil from the federal emergency  stockpile to offset supplies disrupted by Hurricane Ivan.
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World's largest oil reserves, could increase to top 461 billion barrels in a few years, the nation's oil minister said Sunday.
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Jakarta - The president of the Organization for Petroleum Exporting Countries (Opec) on Wednesday urged the United States to release some of its emergency crude oil stocks.
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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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OPEC president Purnomo Yusgiantoro said Wednesday he had urged the United States to use its strategic petroleum reserves (SPR) to bring down oil prices.
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U.S. proven crude oil reserves fell last year for the first time in five years, as energy companies replaced just over half the oil they took out of the ground, the U.S. government said on Wednesday.
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US Energy Secretary Samuel W. Bodman ahead of an OPEC meeting next month urged oil-producing states on Monday to pump more crude to ease pressure on prices.
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The Bush administration announced Thursday it would provide U.S. refineries with "limited quantities" of crude oil from the nation's emergency stockpile to help offset supply disruptions along the Gulf Coast from Hurricane Ivan.
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WASHINGTON, Aug 20  - US Treasury Secretary John Snow said on Friday there had not yet been a large enough disruption to the supply of oil to warrant a decision to tap the US Strategic Petroleum Reserve.
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Aug. 21 (Bloomberg) -- Australia&#39;s government is considering stockpiling crude oil or refined petroleum products to protect the country from disruption to oil imports, the Australian reported.
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With oil near &#36;50 a barrel, the Bush administration said on Thursday it would negotiate with refineries that want to borrow oil from the federal emergency stockpile to offset supplies disrupted by Hurricane Ivan.
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Officials from the world's seven largest economies urge oil producers to increase supply to bring down prices.
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President Bush on Monday called for quick deployment of an international force to help uphold the fragile cease-fire in Lebanon. "The need is urgent," Bush said.