URGENT: IEA states to release 60 mil. barrels oil supply amid Russia invasion

Economy

The International Energy Agency said Tuesday its member countries agreed to release 60 million barrels of oil from their emergency reserves amid Russia's invasion of Ukraine. Such a coordinated release of oil reserves, the first of its kind since 2011, is intended to "send a unified and strong message to global oil markets that there will be no shortfall in supplies" due to Russian aggression against its neighbor country, the IEA said in a press release.

Kyodo News

Kyodo News