Italy will release 9,966 million barrels of oil on the market as part of the coordinated release of strategic reserves carried out by members of the International Energy Agency (IEA), the Italian Ministry of Energy announced.
As stated in the announcement, this amount represents about 13.5 percent of Italy’s total safety stocks of oil, and it is planned to be placed on the market during the next few weeks.
The decision comes a day after the IEA proposed a historic release of 400 million barrels of oil from emergency reserves to stabilize energy prices.
That amount is more than double what the agency put on the market after Russia’s aggression against Ukraine and the energy crisis that followed.
(Vijesti.ba)
