IEA Member Countries to Release 60 Million Barrels From Strategic Oil Reserves to Stabilize Market
The U.S. and the 30 other member countries of the International Energy Agency have agreed to release 60 million barrels of oil from strategic reserves on Mar. 1 to ensure continuity of crude supplies amid Russia’s invasion of Ukraine. This is only the fourth time the IEA has undertaken a coordinated drawdown since it was…...