USA Power Ministry is going to suspend oil strategic storage refill to stop petroleum prices rise

/IRBIS, Jan.27, 00/ - According to ITAR TASS, the Minister of Power of USA Bill Richardson has announced on Wednesday suspending of the oil strategic storage refill. In his opinion, the additional volumes of oil should decrease the rate of oil prices growth. The Power Ministry of USA plans to correct the contracts with the companies, which should deliver in the governmental storage 28 million barrels of oil as the payment for the right to operate on the state land. About of 10 million barrels has been already delivered, the following 5 million will be deferred. Last weeks the Minister of Power undertook vain attempts to stop a rise in oil prices rendering pressing on the refiners and world exporters. However prices continue to increase to 30 dollars / barrel, only for one week they has increased by 5 dollars. Cost of the communal-general fuel in USA has increased for the last weeks by more than 50%, in some regions - almost 2 times. Before the Minister has declared that the state is not going to use 580 million (62 days import equivalent) barrels strategic reserves to the prices reduction. At the same time, the minister has confirmed, that he going to meet the of Saudi Arabia, Mexico, Venezuela and other oil countries representatives to discuss the prices and the OPEC limitation.