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US to release 5 mn barrels from strategic oil reserve

A construction worker specializing in pipe-laying sandblasts a section of a pipeline on July 25, 2013The US Energy Department said Wednesday a decision to release five million barrels from its Strategic Petroleum Reserve was a long-planned test, amid speculation it related to the Ukraine crisis. The department’s decision for a “test drawdown” of the huge reserve is being done to test new regional pipeline systems in Texas and Louisiana, and has been under discussion “for many months”, the department said. Department spokesman Bill Gibbons said it is required to undertake the test by law, though the last time a test release took place was in 1990.

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