IEA Speeds Emergency Oil Release

The International Energy Agency will release more than 20 million barrels of diesel as soon as possible and accelerate the rest of its emergency oil draw, Total releases are now set to exceed the 400 million barrels pledged in March. About 330 million barrels have already been released since the Strait of Hormuz crisis triggered the record coordinated stock draw. IEA members still have roughly 100 million barrels left to deliver under the March action, with some countries having released more than their original commitments and others still holding…