IEA TO ACCELERATE OIL RESERVE RELEASES AS DIESEL SUPPLY TIGHTENS

The International Energy Agency warns that global oil markets remain tight, particularly for diesel, amid the Strait of Hormuz crisis.

330 million barrels of emergency reserves have already been released, with approximately 100 million barrels remaining.

The IEA plans to accelerate releases, including more than 20 million barrels of diesel as soon as possible.

Total releases are now expected to exceed the original 400-million-barrel commitment, as member countries seek to stabilize energy markets.

Source: International Energy Agency (IEA)