21-08-04

Oil supplies have not been disrupted enough to justify releasing petroleum from the US Strategic Petroleum Reserve, Treasury Secretary John Snow said.
"I don't think we're there yet," he said.

Snow said the Bush administration intends to keep adding oil to the reserve. The government's additions to the emergency stockpile haven't had much impact on prices, he said.
Democratic presidential challenger John Kerry has proposed a moratorium on putting more oil away while prices remain high.

The SPR now contains 666.5 mm barrels of oil, enough to replace 53 days of imports.
The government intends to add 3.4 mm barrels in August, 2.9 mm in September and 4.8 mm in October. The SPR's maximum capacity is 727 mm barrels.

Source: Petroleumworld