SPR may be 'Plan B' after OPEC

Sam FletcherOGJ Senior WriterUS President Barack Obama and members of his administration again talked of dipping into the US Strategic Petroleum Reserve as energy prices climbed June 8 after ministers of the Organization of Petroleum Exporting Countries failed to change production at an acrimonious meeting in Vienna.Obama was quoted by the Huffington Post as saying, “My general view has been that [SPR] is to be used when you don't have just short-term fluctuations in the market, but where you have a disruption…. Libya has taken 125 million bbl off the market.”Actually some 1.5 million b/d of Libyan production—1.8% of global supply—has been shut in since Febr...

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