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      US Budget Deal Would Sell 58M Barrels of Oil From Emergency Reserves

   by Reuters

   Congressional leaders proposed to sell 58 million barrels of oil from
   U.S. emergency reserves over six years starting in fiscal 2018 to help
   pay for a budget deal that ends mandatory spending cuts, according to a
   copy of the bill posted to a congressional website.

   The Strategic Petroleum Reserve (SPR) holds more than 695 million
   barrels of crude in Texas and Louisiana, a bounty that U.S. lawmakers
   have eyed a few times this year to pay for a new drug program and
   highway maintenance.

   Economists have said reducing SPR stocks is the right idea at the wrong
   time, given low crude oil prices.

   The White House has urged Congress to pass the budget compromise.
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   [1]http://www.voanews.com/content/strategic-petroleum-reserve-selloff/3
   024775.html

References

   1. http://www.voanews.com/content/strategic-petroleum-reserve-selloff/3024775.html