The member countries of the International Energy Agency have unanimously agreed to release 400 million barrels from their strategic petroleum reserves.

The International Energy Agency announced on March 11 that its 32 member countries have unanimously agreed to release a total of 0.4 billion barrels of strategic oil reserves, aiming to ease global oil supply tensions caused by the US and Israeli military strikes against Iran. Fatih Birol, director of the International Energy Agency, said that the release action will be carried out step by step within an appropriate time frame according to the specific conditions of each member state, and the specific implementation plan will be announced later. The statement pointed out that the International Energy Agency will continue to closely monitor the dynamic changes in the global oil and gas market. Birol revealed in a previous communiqué that member states currently hold more than 1.2 billion barrels of public emergency oil reserves and about 0.6 billion barrels of government-controlled corporate reserves. According to the relevant mechanism of the International Energy Agency, member states