The International Energy Agency is ready to release additional oil reserves to the market if necessary, IEA head Fatih Birol said during his visit to Tokyo in response to Japanese Prime Minister Sanae Takaichi’s request regarding “the release of additional oil in case of a prolonged war in the Middle East,” APA reports.
Earlier this month, the IEA announced that member countries would release 400 million barrels of oil from their reserves to mitigate the impact of the Middle East war, marking the largest reserve release in history.
