IEA: Oil Prices Declining Following Reserve Release
International Energy Agency Executive Director Fatih Birol stated on Friday that oil prices have begun to decrease following a decision to release 100 million barrels from strategic reserves. This coordinated release by Group of Seven countries involves both crude oil and diesel fuel.
Oil prices have begun to decline after a decision to release 100 million barrels of oil and fuel reserves, International Energy Agency Executive Director Fatih Birol said on Friday. Birol said Group of Seven countries agreed on Friday to release 100 million barrels of diesel and crude oil from emergency reserves.