International Energy Agency data indicate that around 325 million barrels of crude oil have been released to date.
Member states of the International Energy Agency (IEA) are prepared to “release more” strategic oil reserves, including diesel, the organization announced Wednesday after a meeting.
These countries hold the equivalent of around 1.1 billion barrels, of which more than 200 million are diesel, the IEA said in a statement, adding that they are prepared “to release more of these reserves onto the market if and when necessary.”
They also backed “the priority given to the release of diesel reserves (…) in view of current tensions in the markets.”
To date, some 325 million barrels of oil have been released out of the 400 million pledged by the 32 IEA countries in March, the organization recalled.