🔸The International Energy Agency announced that member countries of this organization have, so far, imported 325 million barrels of oil and petroleum products from their emergency reserves into the market.

🔸This amount is more than 80% of the 400 million barrels that 32 member countries of the agency, in March, had pledged to release following disruptions in energy supply caused by the Iran–U.S. war.

🔸The figure was released one day after it was announced that the G7 countries, with coordination from the International Energy Agency, agreed to bring an additional 100 million barrels of crude oil and diesel from emergency reserves into the market over four months.

🔸A significant portion of this amount of diesel is expected to be supplied during the first 20 days of the release.

🔸It is not yet clear whether the 100 million barrels includes the remaining 75 million barrels from the March commitment or whether it will be supplied in addition to that.

🔸Fatih Birol, the executive director of the International Energy Agency, said on Friday that after the announcement of the new decision to release the reserves, the oil price had fallen by about five dollars. He added that this agency has sufficient reserves, if needed, to supply more to the market.