Energy Agency speeds up 100M barrel reserve release

The International Energy Agency is accelerating the withdrawal of approximately 100 million barrels from oil reserves, aiming to supply the market with diesel and reduce high fuel prices resulting from Iran and Ukraine conflicts, which have disrupted refining and oil tanker movement. The decision comes in response to the G7 countries' agreement, which is exerting pressure on reserves, with a focus on prioritizing the withdrawal of diesel due to its current scarcity. This intervention seeks to ease the crisis, which has reached record levels, although some believe that the figure does not constitute a fully new intervention, with plans to review the situation at the upcoming meeting of the agency's board.

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