IEA Nations Agree New Release of SPR Oil

Copyright © 2023 Energy Intelligence Group All rights reserved. Unauthorized access or electronic forwarding, even for internal use, is prohibited.
ss604160558-oil-storage
GLF Media/Shutterstock

Member nations of the International Energy Agency (IEA) agreed on Friday to release more oil from their strategic stockpiles to offset supply disruptions triggered by the war in Ukraine and to exert some downward pressure on prices.

Topics:
Oil Supply, Oil Prices, Crude Oil, Ukraine Crisis
Wanda Ad #2 (article footer)
#
The three hubs are being developed in parallel with storage facilities with an initial combined storage capacity of 15 million tons/yr of CO2.
Mon, Oct 2, 2023
The Biden administration is facing mounting pressure due to this summer's surge in crude prices, which threatens to weigh on the US economy and reignite inflation.
Mon, Oct 2, 2023
Crude futures eased back on Friday, with some sources attributing the move to profit-taking after a week of significant gains.
Fri, Sep 29, 2023