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The Independent UK
The Independent UK
Business
Henry Saker-Clark

International Energy Agency to release record oil reserves to calm markets

Energy International Energy Agency Oil Iran IEA Strait of Hormuz United States

The International Energy Agency (IEA) says it has agreed to release a record 400 million barrels of oil from its strategic reserves to help stabilise markets.

The UK Government said it will contribute 13.5 million barrels from its own stockpile for the release.

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