IEA to Speed up Oil Stocks Release Including over 20 Million Barrels of Diesel
The agency said members will accelerate about 100 million barrels of remaining emergency stocks, including more than 20 million barrels of diesel.
- On Thursday, the International Energy Agency announced it will exceed the original 400 million barrel oil release pledge from March, committing to accelerate the remaining 100 million barrels including 20 million barrels of diesel.
- Tightening energy markets caused by regional conflicts prompted the decision, as Russia, the second-largest diesel exporter after the United States, faces supply constraints amid Ukrainian attacks on its refineries.
- Maritime officials reported two vessels sunk near the Hormuz Strait in the past 24 hours after being hit by projectiles; the Iran-backed Houthi group continues targeting Saudi Arabia, including a Saturday attack on King Khalid International Airport that killed 13 people.
- Global benchmark Brent crude decreased to $104 per barrel on Wednesday, while West Texas International crude rose to $95; President Donald Trump claimed a deal with Russian President Vladimir Putin will reduce energy and diesel prices.
- The United States accounts for more than 40 percent of the 330 million barrels released so far, with officials aiming to complete remaining releases in a timely manner consistent with national circumstances to stabilize global energy markets.
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IEA to Accelerate Oil Reserve Releases, Including More Than 20 Million Barrels of Diesel
The International Energy Agency (IEA) has agreed to accelerate the release of emergency oil reserves, including more than 20 million barrels of diesel, as governments ... The post IEA to Accelerate Oil Reserve Releases, Including More Than 20 Million Barrels of Diesel first appeared on [your]NEWS.
The International Energy Agency (IEA) has announced that member states have agreed to complete the release of 100 million barrels of oil stocks that remain from an intervention in March aimed at calming global markets, as energy supplies continue to be disrupted by the Middle East war. According to its International Energy Bulletin statement, the IAEA Board of Governors has reaffirmed its commitment to continue [...].
Priority will be given to the disposal of diesel stocks, the Agency said, after a meeting of its board of directors.
Reformatorisch Dagblad
welingelichtekringen.nlThe International Energy Agency (IEA) announced on Thursday that it is accelerating the release of strategic oil reserves due to sharply rising fuel prices. In doing so, the organization is heeding calls from the G7, the group of major industrialized countries including Germany and France.
IEA speeds up oil stock release to curb global fuel prices following US pressure
The International Energy Agency said it will release more than 400 million barrels of oil initially agreed upon in March as part of an effort to curb global fuel prices. The Paris-based IEA said Thursday in a statement that it will complete the release of the remaining 100 million barrels of oil it approved in […]
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