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Nations to release millions of barrels of oil amid war

PARIS (AP) — The International Energy Agency says its member countries are releasing 60 million barrels of oil from their emergency reserves on top of previous U.S. pledges to take aim at energy prices that have soared since Russia invaded Ukraine. The Paris-based organization said Thursday that the new commitments made by its 31 member nations, which include the United States and much of Europe, amount to a total of 120 million barrels over six months. It’s the largest release in the group’s history. Half of that will come from the U.S. as part of the larger release from its strategic petroleum reserve that President Joe Biden announced last week.

Article Topic Follows: AP National Business

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The Associated Press

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