US-Iran war: India cheers IEA move to release emergency oil stocks, wins agency’s praise amid supply disruptions

The International Energy Agency (IEA) on Wednesday praised India after the latter welcomed the agency’s decision to release 400 million barrels of oil from emergency reserves as tensions escalate over the US and Israel’s war in Iran, Reuters reported.

IEA’s Executive Director Fatih Birol said he is “pleased to read India’s supportive statement for IEA’s action to release oil stocks to address disruptions in global oil markets.”