International Energy Agency says members to release 400m barrels from oil reserves
The International Energy Agency has said its member countries will unlock 400 million barrels of oil from their reserves — the biggest such release ever — to ease the impact of the war, AFP reports.
“The oil market challenges we are facing are unprecedented in scale; therefore, I am very glad that IEA member countries have responded with an emergency collective action of unprecedented size,” IEA executive director Fatih Birol said in a statement.
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