In the week ending 16 June, US reserves of crude oil rose by 1.4 m barrels to 347.1 m barrels. As a result, the country's oil reserves are now at their highest level since May 1998.
Was this issue of the USA's unusually large oil reserves discussed at the annual EU-US summit in Vienna? Might the USA be holding these large reserves in order to keep the price of oil artificially high, with all the adverse consequences this would have for the European economy? How much American crude is being imported into the EU?