19 Hrs
Source:
الراي
IEA members to release more oil reserves
The member countries of the International Energy Agency announced that they are ready to release more of their oil reserves, especially diesel, to address supply shortages caused by damage to oil refineries in the region and disruptions in the global oil market. IEA Executive Director Fatih Birol affirmed that available reserves are abundant, and that countries have so far released 325 million barrels out of the 400 million barrels they committed to in March, while still holding approximately 1.1 billion barrels in emergency reserves. This comes at a time when the Group of Seven has agreed to release 100 million barrels of oil and diesel to mitigate the impact of the war in the Middle East on supply chains.
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