Member countries of the International Energy Agency (IEA) have released 325 million barrels of crude oil and petroleum products from their strategic reserves, the agency said. The release is being carried out under a commitment announced in March to help prevent fuel shortages in the international market.
IEA reserve release
IEA member states pledged to release a total of 400 million barrels. The 325 million barrels released so far include crude oil and petroleum products, according to the agency.
The release is part of the members’ wider effort to make supplies available to the international market and reduce the risk of fuel shortages. The agency did not provide further details on the timing of the remaining barrels in the information reported.
