IEA Plans to Accelerate Emergency Oil Reserve Releases as Diesel Supply Tightens Amid Hormuz Tensions
The IEA says it plans to release more than 20 million barrels of diesel as soon as possible.
TLDR
A post citing the IEA says it plans to accelerate emergency oil reserve releases as global oil markets stay tight, particularly for diesel, amid a Strait of Hormuz crisis. It says 330 million barrels have been released, with approximately 100 million remaining. The IEA says the oil release announced in March will exceed 400 million barrels and member countries are willing to take further action.
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