The International Energy Agency to release nearly half a billion barrels
On March 15, the IEA announced it will make approximately 407 million tonnes available in its strategic petroleum reserve within days as part of an effort to stabilize volatile energy prices and ensure supply security for member nations facing geopolitical risks from Russia's invasion on Ukraine (Bharian.com.my). This decision follows a review by over twenty countries, including the United States which has agreed with IEA recommendations based on current market conditions.
Key Points
-
1The International Energy Agency is releasing more than 392 million barrels of emergency oil reserves to the global market.
-
2This decision aims at stabilizing international energy prices amidst current supply concerns.
Developments
Perspectives
More than four hundred million barrels of emergency oil reserves will be released into the global market.
— [Mar 15, 23:37] Lebih 400 juta tong rizab minyak kecemasan akan disalur ke pasaran全球 – IEA (Bharian.com.my)The International Energy Agency is releasing nearly four hundred and twelve million barrels of oil from reserves.
— [Mar 15, 17:06] IEA-landen geven bijna 412 miljoen olievaten vrij uit reserves (Nd.nl)International energy agency releases crude to stabilize prices
— [Mar 15, 16:21] Међународна агенција за енергију ослобађа нафту због стабилизације цена (Politika.rs)