NEW DELHI: Member countries of the International Energy Agency (IEA), including India, late on Tuesday agreed to release 60 million barrels of oil from their emergency stockpiles as a message to the global oil markets that there will be no shortfall in supplies as a result of the conflict between Ukraine and Russia.
The decision was taken at a ministerial level extraordinary meeting of the 31-member governing board chaired by US energy secretary Jennifer Granholm in her capacity as chair of this year’s IEA Ministerial Meeting.
