IEA to release 120 million barrels of oil to ease prices
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© Reuters. FILEPHOTO: A maze of crude petroleum pipes and valves were pictured by the Department of Energy, Strategic Petroleum Reserve in Freeport (Texas), U.S. June 9, 2016. REUTERS/Richard Carson(Reuters) – The International Energy Agency will produce 120 million barrels oil in an effort to lower prices. Half of the production would be from the United States and the other half would be provided by other IEA member countries, a Bloomberg reporter stated on Twitter.
Reporter cites unidentified sources to say that the U.S. contribution will be part of the 180 Million barrels already announced by President Joe Biden.
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