IEA confirms 120 million barrel oil release with U.S.
A maze of crude oil pipes and valves is pictured during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, U.S. June 9, 2016. REUTERS/Richard Carson/
Register now for FREE unlimited access to Reuters.com
LONDON, April 6 (Reuters) - The International Energy Agency on Wednesday said its member countries had agreed to release 120 million barrels of oil, with the United States contributing half, in a bid to cool oil prices after Russia's invasion of Ukraine.
"The @IEA is moving ahead with a collective oil stock release of 120 million barrels (including 60 million barrels contributed by the US as part of its overall draw from its Strategic Petroleum Reserve)," IEA Executive Director Fatih Birol tweeted.
"More details of specific contributions will be made public soon."
Register now for FREE unlimited access to Reuters.com
Our Standards: The Thomson Reuters Trust Principles.