BlockBeats News, March 12, the International Energy Agency (IEA) announced on the 11th that 32 member countries have agreed to release 400 million barrels of strategic petroleum reserves. In terms of numbers, this is the largest collective release action in IEA history. After the 2022 Russia-Ukraine conflict, IEA member countries released a total of approximately 183 million barrels twice, doubling the scale this time.
It is reported that several countries have already disclosed their respective contributions:
United States: 172 million barrels; Japan: about 80 million barrels; South Korea: 22.5 million barrels; Germany: about 19.5 million barrels; France: up to 14.5 million barrels; United Kingdom: 13.5 million barrels.
It is worth noting that for the energy market, the truly key information has not yet been disclosed—this includes the release pace, duration, and the ratio of crude oil to refined products. These details are often more important than the total amount itself. (Wall Street News)
