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Trump Orders U.S. to Stock Up Oil Reserve After Price Crash

  • ‘We’re going to fill it right up to the top,’ president vows
  • U.S. could take as much as 77 million barrels off the market
Donald Trump speaks during a news conference in the Rose Garden of the White House on March 13. 

Donald Trump speaks during a news conference in the Rose Garden of the White House on March 13. 

Photographer: Andrew Harrer/Bloomberg
Updated on

President Donald Trump ordered U.S. energy officials to purchase “large amounts” of oil to fill up the nation’s emergency reserve after the biggest price crash in a generation.

Replenishing the Strategic Petroleum Reserve -- as proposed by some oil lobbyists earlier this week in light of the collapse in prices -- would enable the government to take as much as 77 million barrels off the world market.