PIRINC: Additions to SPR not driving up oil prices

A bipartisan political decision to fill the US Strategic Petroleum Reserve (SPR) through the US Minerals Management Service's royalty-in-kind (RIK) program to take oil, rather than cash, in payment for royalties on offshore leases is not the cause of the run-up of world oil prices this year, said officials of the New York-based Petroleum Industry Research Foundation Inc. (PIRINC).

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