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International Energy Agency: Oil from emergency reserves will soon begin flowing into global markets
Deep Tide TechFlow News, March 15 — According to Jinshi, the International Energy Agency (IEA) announced that oil from emergency reserves will soon begin flowing into the global market. Stocks from Asian and Oceanian countries will be immediately available, 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 contribute 172.2 million barrels of oil. Of the planned releases, 72% will be crude oil and 28% will be petroleum products.