IEA still examining details of coordinated oil release -Japan industry minister

TOKYO : The International Energy Agency is still examining details of a planned second round of the coordinated release of oil reserves, Japanese industry minister Koichi Hagiuda said on Tuesday.

Japan aims to make a decision on its release plan swiftly after receiving official notification from the IEA to make the cooperative action effective, Hagiuda told a news conference. U.S.-allied countries on Friday agreed to their second coordinated oil release in a month to calm markets roiled by Russia's invasion of Ukraine, the IEA said, without specifying volume, but adding details will be made public early this week.

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