Administration Debating Oil Stockpile Release
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The Bush administration is moving toward releasing oil from the nation's emergency stockpiles as a result of disruptions to production and imports caused 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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JAKARTA, Indonesia -- The Organization of Petroleum Exporting Countries wants oil prices that traded near $50 a barrel last week before retreating this week to fall faster, and will discuss whether to increase production at a meeting next month, the
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The decision, which could lead to a cutoff of fuel supplies, complicates a diplomatic effort by Condoleezza Rice.
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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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UNITED NATIONS, Dec. 9 -- The Bush administration Thursday sought to end speculation that it has lost confidence in U.N. Secretary General Kofi Annan over his handling of the oil-for-food program in Iraq, insisting that it does not support calls from some members of Congress for his resignation.
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ABUJA, Nigeria  -- With oil prices recently dipping to seven-month lows, OPEC's president said Thursday that the group is considering an emergency meeting to discuss the possibility of cutting output.
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OPEC oil producers meeting on Sunday are  debating what advance measures they can put in place to head  off a potential price drop after the northern winter, cartel  ministers said on Saturday.
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American taxpayers have invested about $20 billion to stock the U.S. Strategic Petroleum Reserve, which is about to be filled to the brim for the first time.
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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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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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Amid indications that US President George W Bush is all set to return to the White House for a second term, oil prices, which had dropped below $50 a barrel on Monday crept back to $51 before settling at $50.
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JAKARTA, Indonesia -- The Organization of Petroleum Exporting Countries has asked the United States to use its strategic petroleum reserves to help reduce oil prices, the cartel&#39;s president said Wednesday.
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The Bush administration said top officials were once again debating how and when to close the detention facilities.
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WASHINGTON -- Oil prices inched closer to $50 a barrel yesterday even as the Bush administration offered to tap the nation's emergency stockpile of crude on behalf of refiners whose supply was disrupted by Hurricane Ivan.
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The head of the Organization of Petroleum Exporting Countries (OPEC) has called on the United States to release some of its oil reserves to help reduce world oil prices.
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WASHINGTON -- The Bush administration is split over the idea of a surge in troops to Iraq, with White House officials aggressively promoting the concept over the unanimous disagreement of the Joint Chiefs of Staff, according to US officials familiar with the intense debate.