The U.S. and International Energy Agency will release 60 million barrels of oil from reserves to stablize world energy markets.
The U.S. will release 30 million barrels from its Strategic Petroleum Reserve and the rest will come from the International Energy Agency, U.S. Energy Secretary Steven Chu said today. The oil will be released in the next 30 days to offset the disruption in the oil supply caused by unrest in the Middle East.
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