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.
BE PART OF THE CONVERSATION
News Channel 3-12 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.