IEA Members Agree to Accelerate Release of 100 Million Barrels of Oil Reserves

On the 7th, local time, the International Energy Agency (IEA) issued a statement saying its member governments have agreed to accelerate the implementation of the oil reserve release plan announced in March this year. If previously committed but unreleased reserves are fully released to the market, an additional approximately 100 million barrels of oil are expected to be supplied. The statement also noted that, in response to current tight diesel market supply, member governments agreed to prioritize releasing diesel where conditions permit. (CCTV News)