STUDY GROUP URGES INCREASED U.S. OIL RESERVES A study group said the United States should increase its strategic petroleum reserve to one mln barrels as one way to deal with the present and future impact of low oil prices on the domestic oil industry. U.S. policy now is to raise the strategic reserve to 750 mln barrels, from its present 500 mln, to help protect the economy from an overseas embargo or a sharp price rise. The Aspen Institute for Humanistic Studies, a private group, also called for new research for oil exploration and development techniques. It predicted prices would remain at about 15-18 dlrs a barrel for several years and then rise to the mid 20s, with imports at about 30 pct of U.S. consumption. The study cited two basic policy paths for the nation: to protect the U.S. industry through an import fee or other such device or to accept the full economic benefits of cheap oil. But the group did not strongly back either option, saying there were benefits and drawbacks to both. It said instead that such moves as increasing oil reserves and more exploration and development research would help to guard against or mitigate the risks of increased imports.