U.S. President Joe Biden announced a record release of crude oil reserves in March without consulting the International Energy Agency (IEA), sources said.
Washington’s unilateral actions could undermine relations with the IEA, which performs an oversight function. The participating countries are concerned that Biden used the Strategic Petroleum Reserve (SPR) for political purposes instead of protecting consumer countries from global supply disruptions.
“All members of the IEA understand that we must cooperate as a whole,” the source said, adding that the US statement came as a surprise.
The US Department of Energy confirmed that the decision to release the oil was independent of the IEA.
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