The International Energy Agency (IEA) recently announced that member countries have released a total of 325 million barrels of oil and oil products from their strategic reserves, out of the 400 million barrels committed in March.
The IEA released this update a day after the Group of Seven (G7) industrialized nations, in coordination with the IEA, agreed to immediately release 100 million barrels of diesel and crude oil to alleviate concerns about global energy supply stemming from the US- Iran conflict.
The G7 did not specify whether this 100 million barrels included the remaining 75 million barrels from the IEA's March commitment, or whether it was an additional amount added to that.
The administration of US President Donald Trump has pressured allies to release diesel fuel stockpiles in an effort to curb the sharp rise in fuel prices, which is being felt in the US and elsewhere.
The limited supply of diesel fuel is one of the consequences of the conflict in the Middle East, where Iran has tightened restrictions on shipping through the Strait of Hormuz in retaliation for attacks by the US and Israel.
Ukraine 's attacks on Russian oil refineries, part of its retaliation for Russian attacks, also impacted the market.
The IEA said in a statement that approximately 325 million barrels under the joint action plan announced on March 11 have been released to date, equivalent to more than 80% of the initial 400 million barrels committed under the plan.
Source: https://www.vietnamplus.vn/iea-325-trieu-thung-dau-da-duoc-giai-phong-tu-kho-du-tru-chien-luoc-post1139886.vnp
