
(Oct 15): The International Energy Agency said that members agreed to complete the release of 100 million barrels of oil that are still outstanding from an intervention in March aimed at calming global markets.
The countries will accelerate the distribution of the remaining volumes, including the release of 20 million barrels of diesel “as soon as possible,” the agency said after a meeting of its governing board on Thursday. They have so far tapped 330 million barrels out of 400 million initially pledged in March.
The US had informally lobbied for an additional release to help quell rising diesel prices, Bloomberg reported earlier.
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