LONDON: The UK will allow private oil reserves to be released voluntarily in responding to the efforts of the release of global inventories led by the United States, a British government spokesman in an email statement on Tuesday.
“If all companies choose to use this flexibility, it will release the equivalent of 1.5 million barrels of oil,” said the spokesman.
“This does not affect UK oil reserves, which are significantly above the 90 days needed by (International Energy Agency).”