Jakarta –
The member countries of the International Energy Agency (IEA) will hold an emergency meeting this Friday. According to reliable sources, other countries are invited to follow in the footsteps of the United States (US) who poured oil from emergency reserves.
After announcing a record release of 180 million barrels of oil, US President Joe Biden said other countries could release as much as 30-50 million barrels of oil.
“The higher the number, the more likely it is that prices will fall,” Biden said CNNFriday (1/4/2022).
Sales in the market oil accelerated after Biden’s announcement. As a result, US oil prices briefly declined. In recent trading, oil prices fell 6.8% to US$ 100.47 per barrel.
An IEA spokesman declined to comment. However, IEA Executive Director Fatih Birol said the IEA government gathered in an extraordinary meeting to discuss what steps they can take to bring stability to the oil market.
In early March, the IEA announced the coordinated release of 60 million barrels from member states’ emergency reserves, including 30 million from reserves oil strategic US.
(toy/ara)
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