The International Energy Agency (IEA) has confirmed the release of about 330 million barrels of emergency reserves of oil to address supply disruptions, Al Jazeera reports.
The release is part of an agreement reached in March when member countries agreed to release 400m barrels to address the supply disruption caused by the Iran war.
The IEA Governing Board said it had agreed to accelerate the release of the remaining 100m barrels from the reserves, including more than 20m barrels of diesel.
The board noted that the total volume of stocks to be released exceeded the original total of 400m barrels, as some member countries released higher quantities than initially pledged.
