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Economy
1 MIN READ
IEA to release 120 mln barrels over six month period
April 8, 2022
By Reuters
By Reuters
Updates table
April 7 (Reuters) – The International Energy Agency (IEA) on Thursday confirmed member country contributions to the second collective action to release oil stocks in response to Russia’s invasion of Ukraine.
The commitments submitted by members reached 120 million barrels to be released over a six month period, the IEA added.
The U.S. will release 60 million barrels of oil from storage and Japan will release 15 million barrels.
Other major contributors include South Korea, Germany, France, Italy and the United Kingdom.
| Country | Thousand barrels
|
| United States | 60559 |
| Japan | 15000 |
| South Korea | 7230 |
| Germany | 6480 |
| France | 6047 |
| Italy | 5000 |
| United Kingdom | 4408 |
| Spain | 4000 |
| Turkey | 3060 |
| Poland | 2298 |
| Australia | 1608 |
| Netherlands | 1600 |
| Greece | 624 |
| Hungary | 531 |
| New Zealand | 483 |
| Ireland | 451 |
| Finland | 369 |
| Lithuania | 180 |
| Estonia | 74 |
(Reporting by Kavya Guduru, Seher Dareen and Ashitha Shivaprasad in Bengaluru; Editing by Chris Reese)
This article originally appeared on reuters.com