21 Hrs
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المشهد العربي
Energy Agency Review of 100M Barrel Oil Drawdown
The International Energy Agency is studying an emergency plan to release up to 100 million barrels of diesel and crude oil reserves, in an attempt to alleviate the global diesel price surge resulting from supply disruptions caused by the war with Iran and the ongoing conflict in Ukraine. This comes ahead of a board meeting to discuss implementation mechanisms, followed by a European meeting in Brussels to coordinate the European Union's unified stance on the stock release plan. It is expected that this action will help reduce pressure on the diesel market in the coming months, provided that the execution is swift and energy market tensions persist.
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