IEA to release 120M barrels of oil

0 Comment(s)Print E-mail Xinhua, April 8, 2022
Adjust font size:

The International Energy Agency (IEA) announced on Thursday that its members will release 120 million barrels of crude oil reserves over the next six months, in the face of the global energy shortage caused by the conflict in Ukraine.

The Governing Board of IEA confirmed that it's the largest stock release in IEA's history.

IEA said the "unanimous" agreement to release the stock was reached by its 31 member countries on April 1.

It is the IEA's second release of reserves since the Russia-Ukraine conflict. In a first step, 62.7 million barrels of crude oil were freed up on March 1.

Prior to the Russia-Ukraine crisis, IEA member countries held emergency stockpiles of 1.5 billion barrels.

Follow on Twitter and Facebook to join the conversation.
ChinaNews App Download
Print E-mail Bookmark and Share

Go to Forum >>0 Comment(s)

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Enter the words you see:   
    Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from