Translation. Region: Russian Federation –
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
Paris, March 11 (Xinhua) — International Energy Agency (IEA) Executive Director Fatih Birol said on Wednesday that the organization has recommended releasing 400 million barrels of oil from inventories. This is the largest such release in the agency's history.
As F. Birol noted at a press conference, 32 member countries unanimously agreed to release 400 million barrels of oil from their emergency reserves to the market.
He added that the release of stockpiles will take place within a timeframe appropriate to the national circumstances of each member country.
According to F. Birol, the IEA Secretariat will provide further details on the implementation of these collective actions in due course, and the agency will continue to closely monitor the situation in the global oil and gas market. –0–
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