News Formal

IEA states agree to release 60-million barrels of emergency oil stocks

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 35 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 63%

Sverige Nyheter Nyheter

International Energy Agency head Fatih Birol gives details of oil plan to counter rising prices after Russia’s invasion of Ukraine

International Energy Agency chief Fatih Birol speaks at a news conference in Istanbul, Turkey, October 2 2015. Picture: OSMAN ORSAL/REUTERS

“The IEA is moving ahead with a collective oil stock release of 120-million barrels ,” IEA executive director Fatih Birol tweeted. Markets appeared to be cheered by the latest IEA move, with Brent oil falling about 5% to about $101.50 a barrel on Wednesday.The timing of when the additional 60-million barrels from non-US IEA countries would come to market was not immediately clear. Birol said details on specific contributions would be made public soon.

Claudio Galimberti, senior vice-president of analysis at consultancy Rystad Energy, said the US SPR release of 1-million barrels per day would struggle to plug potential lost Russian output of over 2-million bpd.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 12. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Oil extends rally on Russia sanctions bets, stocks wobbleWhile Europe's economy relies heavily on energy from Russia, the possibility of an embargo sent both main contracts sharply higher Monday, and they continued their rise in Asia, putting on more than one percent. May God continue to bless you Mrs LindaStouffes I never beblieve it's going to work out because I have lost a lot in different places I know one day they will face the judgment. I really appreciate LindaStouffes
Källa: ewnupdates - 🏆 30. / 53 Läs mer »