The move could make a small contribution to easing oil-market concerns of a supply crunch as it will free up more than 75,000 barrels a day of crude that can be sold on the open market. But the total amount is just a tiny part of a global 84 million-barrels-a-day market.
On Thursday Bodman said the US wants the Organization of Petroleum Exporting Countries (OPEC) to increase its oil production when it meets next week in Vienna.
"Obviously, we would encourage, have encouraged and will encourage increases in production to the extent that it's possible," he said. "We are in relatively constant touch with the producers, the ministers from both OPEC and non-OPEC nations."
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