IEA to release 60M barrels to help stabilize oil prices - report - Breaking The News
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IEA to release 60M barrels to help stabilize oil prices - report

Markets
Christian Baha / BU

1 min read

The International Energy Agency (IEA) will release 60 million barrels from oil reserves on top of the United States' announced 180 million barrels during the following six months, The Wall Street Journal reported on Wednesday, citing people familiar with the matter.

The IEA's release will amount to 120 million barrels, with 60 million accounted for by Washington, the report explained.

The move would mark the agency's largest release in its 47-year history, the outlet explained. It is expected for the IEA to come out with the announcement by the end of the week.

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