U.S. says will release 30 million barrels oil from reserves

WASHINGTON (Reuters) - The United States will tap its vast emergency petroleum stockpile as part of global efforts to bolster tightening oil supplies.

The Energy Department said Thursday it will release 30 million barrels of oil from its 727 million barrel reserve, about half of the 60 million barrels to be released globally. The U.S. release would be equivalent to about a day and a half of total U.S. oil consumption.

It typically takes about 13 days for oil from the reserves to reach the market once the order is issued.

"We are taking this action in response to the ongoing loss of crude oil due to supply disruptions in Libya and other countries and their impact on the global economic recovery," Energy Secretary Steven Chu said in a statement.

"As we move forward, we will continue to monitor the situation and stand ready to take additional steps if necessary," he said.

(Reporting by Ayesha Rascoe; Editing by David Gregorio)