UPDATE 1-EU launches consultation on emergency oil reserves

(Adds details, quote from EU Commission spokesman)

BRUSSELS, April 22 (Reuters) - The European Union has launched a public consultation over the oil reserves member states hold to cushion themselves against unexpected oil crises, a spokesman for the European Commission said.

The consultation was launched on Tuesday with oil at around $117 a barrel, just short of its all-time high, after attacks on pipelines in Nigeria stoked supply fears at a time of robust Chinese demand for crude.

The EU's executive Commission is seeking views on how to revise a directive that advises member states each to hold 90 days of oil supplies for emergencies. The directive was made in 1968, just ahead of the first major oil shock in the 1970s.

"This will analyse measures to allow more flexible use of stocks in the event of a crisis," the Commission spokesman told a regular briefing.

The consultation will take place over eight weeks with the goal of presenting draft legislation in the second half of this year, he added.

Comment will be sought on whether changes in the EU, market developments and future challenges for supply security call for changes to the current rules and on whether amendments suggested by the Commission are appropriate, the Commission said. (Reporting by Pete Harrison; Editing by Dale Hudson)