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The U.S. energy secretary said he was discussing with allies to release further crude oil to stabilize the oil market

 Last Update: 2023-03-04
 Source: Internet
 Author: User

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Foreign news on March 24, US Energy Secretary Jennifer Granholm said on Thursday that after the Russian-Ukrainian conflict, the United States and its allies are discussing the possibility of further coordinating the release of crude oil inventories to help stabilize the oil market
.

"There's a discussion going on about emergency stockpiles, and all these tools are definitely on
the table," Granholm said.
”

Members of the International Energy Agency agreed earlier this month to release more than 60 million barrels of oil reserves to cool rising oil prices
.
Oil prices have affected the cost of living and stimulated inflation
.

Brent crude was trading around $120 a barrel on Thursday, up from $
105 when reserves were last released.

International Energy Agency Administrator Fatih Birol said the oil released earlier accounted for only 4 percent
of its members' total reserves.
IEA membership includes 31 major industrialized countries, but not Russia
.

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