International Energy Agency to release 400 million barrels of oil
The International Energy Agency (IEA) has announced that it will release 400 million barrels of oil from emergency reserves. It said that the 32 member countries have taken this decision unanimously to control crude oil prices. The International Energy Agency currently has over 1.2 billion barrels of oil reserves. This is the sixth time that the International Energy Agency has released oil. It has previously released oil twice, including in 1991, 2005, 2011 and in 2022.
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