IEA member countries accelerate oil reserve releases and US strategic reserves decline
- 1IEA member governments supported accelerating oil reserve releases on October 7.
- 2IEA government public emergency oil reserves were over 1.2 billion barrels in March but decreased to approximately 1.1 billion barrels seven months later.
- 3The Trump administration began an emergency release of 172 million barrels from the Strategic Petroleum Reserve (SPR) in March.
So what's the key point?
IEA member countries have decided to release their stored oil more quickly. The amount of oil held in reserve is decreasing to 1.1 billion barrels.
Source Fortune · View original ↗
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