Skip to Content
AP National Business

Nations agree to release 60 million barrels of oil amid war

By
Published 10:23 AM

By DAVID McHUGH
Associated Press

FRANKFURT, Germany (AP) — The International Energy Agency says all 31 member countries have agreed to release 60 million barrels of oil from their strategic reserves “to send a strong message to oil markets” that there will be “no shortfall in supplies” as a result of Russia’s invasion of Ukraine. The IEA board made the decision Tuesday at an extraordinary meeting of energy ministers chaired by U.S. Energy Secretary Jennifer Granholm. Besides the United States, other members of the organization include the United States, Germany, France, the United Kingdom, Japan and Canada. It’s only the fourth time in history that the IEA has done a coordinated drawdown since the reserves were established in 1974.

Article Topic Follows: AP National Business

Jump to comments ↓

Associated Press

BE PART OF THE CONVERSATION

ABC 17 News is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content