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International Energy Agency: Oil from emergency reserves will soon begin flowing into global markets
Odaily Planet Daily News: The International Energy Agency (IEA) states that emergency reserves of oil will soon begin to flow into the global market. Stocks from Asian and Oceanian countries will be available immediately, while stocks from Europe and the Americas will be available by the end of March. Governments have pledged to release 271.7 million barrels of crude oil from strategic petroleum reserves and 116.6 million barrels from mandatory industry reserves. American member countries will provide 172.2 million barrels of oil. Of the planned releases, 72% are crude oil and 28% are petroleum products. (Jin10)