State-run agency ready to release crude oil reserves in case of market shortage

The Czech Republic said on Tuesday it was ready to release some 9,800 barrels of crude oil every day to help eliminate possible market shortages caused by Hurricane Katrina, the Associated Press reported. The state-run Administration of the State Material Reserves said it had not yet received any such request. The agency said in a statement that it was ready to pump extra crude oil to the local market for 30 days.