The use of "hides" is a bit clickbaity, if they said "stores" then people would have thought it a perfectly reasonable thing to do.
https://www.google.com/maps/place/Bryan+Mound+Strategic+Petr...
http://energy.gov/fe/services/petroleum-reserves/strategic-p...
The price of oil is not conspiracy driven at the moment. It used to be, back when OPEC had more control. Now that everybody has fracking technology, supply exceeds demand, and OPEC can't do much about the price.
For an overview of OPEC (mostly Saudi) thinking on this, see [1].
[1] http://business.financialpost.com/news/energy/saudi-arabia-w...