Emergency oil supply to ease energy market volatility

Kathmandu. The International Energy Agency has said that the member countries of Asia and Oceania region will immediately send oil from their emergency oil reserves to the market. It is said that such a step has been taken to reduce the instability seen in the world market. According to a statement released by the agency on Sunday, oil from the emergency stockpile will soon begin to be supplied to the world market.

For this, the member states have also submitted their implementation plans related to oil publicization. It is said that oil will be provided from the end of March from the stockpiles of member countries of America and Europe.

According to the agency, on March 11, 32 member states jointly decided to release 400 million barrels of oil in view of the interruption in world oil supply due to the ongoing conflict in the Middle East.

Express

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