The International Energy Agency said members have agreed to complete the release
of the remaining 100 mln barrels of stocks from the March intervention to
stabilise global markets. After a board meeting on Thursday, the IEA said
members will speed the remaining releases, including deploying 20 mln barrels of
diesel “as soon as possible.” Members initially pledged 400 mln barrels in March
and have released 330 mln barrels to date. US officials had reportedly
informally lobbied IEA members for further releases to help curb rising diesel
prices.
