International Energy Agency Members to Release Emergency Oil Reserves to Stabilize Global Markets

Kathmandu. The International Energy Agency (IEA) has announced that member nations in the Asia and Oceania region will immediately release oil from their emergency stockpiles into the market. This move is stated to be aimed at reducing volatility seen in the global market.According to a statement issued by the agency on Sunday, oil supply from emergency reserves will begin to reach the global market soon. Member nations have already submitted their implementation plans regarding the public release of this oil. Oil from the reserves of member nations in the US and European regions will be made available starting towards the...