With all this talk of tapping into oil reserves here's an explainer on what they are who has these strategic stockpiles.
- The US reserve currently holds about 606 million barrels ... enough oil to meet U.S. demand for more than a month ... also maintains small heating oil and gasoline reserves in the U.S. Northeast.
- Besides the United States, the other 29 member countries in the International Energy Agency (IEA) ... are required to hold oil in emergency reserves equivalent to 90 days of net oil imports. Japan has one of the largest reserves after China and the United States.
That's from the Reuters explainer, link here if you are interested.
