Nations agree to release 60 million barrels of oil amid Russia-Ukraine war
FRANKFURT: All 31 member countries of the International Energy Agency have agreed to release 60 million barrels of oil from their strategic reserves, half of that from the United States, “to send a strong message to oil markets” that there will be “no shortfall in supplies” after Russia invaded Ukraine, the group said Tuesday.
The board of the Paris-based IEA made the decision at an extraordinary meeting of energy ministers chaired by US Energy Secretary Jennifer Granholm.
