April 28, 2025
IEA

The International Energy Agency will hold an emergency meeting on Friday among consuming nations to discuss a new release of strategic reserves alongside a plan by the United States to pump massive supplies starting in May to cool soaring oil prices.

Major consumers are seeking ways to ease the impact of global oil prices, which have soared more than 30% this year, on their economies after top producers group OPEC+ stuck to plans to add a modest 432,000 barrels per day of supply in May. read more

Western sanctions on Russia after their invasion of Ukraine are expected to see a loss of about 3 million barrels per day (bpd) of Russian oil in April, according to the IEA. Moscow calls its activity in Ukraine a “special operation” to disarm its western neighbour.

To fill the shortfall, President Joe Biden on Thursday authorized the largest release ever from the U.S. Strategic Petroleum Reserves, a release of 1 million bpd of crude for six months starting in May. read more

The U.S. announcement comes a day before IEA member countries are set to meet at 1200 GMT on Friday to discuss a further emergency oil release that would follow their March 1 agreement to release about 60 million barrels.

Several members in the Asia Pacific have said they would support the IEA’s initiatives.

Japan will act appropriately on oil reserves release while closely watching global developments, the industry minister said on Friday.

“It is not clear whether the release will be done by the U.S. alone or the United States will make a proposal at the IEA meeting,” Japanese industry minister Koichi Hagiuda told a news conference.

“In any case, we would like to act appropriately while keeping an eye on the international situation,” he said.

South Korea’s Ministry of Trade, Industry and Energy said in a statement last week that it plans to support additional international cooperation in oil and gas and has already committed to releasing 4.42 million barrels in the March 1 agreement.

New Zealand has reserves available for release if called upon, a spokesperson for Energy Minister Megan Woods said in an email.

New Zealand has already released 369,000 barrels of oil as part of the IEA collective release agreed on March 1, she added.

Australia has committed to release the full 1.7 million barrels it holds in its emergency stockpile in the U.S. strategic reserves in the March agreement.

India, an associate IEA member, is committed to supporting initiatives for reserve releases, for mitigating market volatility and calming the rise in crude oil prices, junior finance minister Pankaj Chaudhury told lawmakers this week.

1,109 thoughts on “IEA to hold emergency meeting to tackle soaring oil prices”

  520. Excellent items from you, man. I have bear in mind your stuff prior to and you are just too wonderful. I really like what you’ve got right here, certainly like what you’re stating and the way in which in which you assert it. You are making it enjoyable and you continue to take care of to stay it wise. I can’t wait to read far more from you. That is really a tremendous web site.

    Reply

  1037. Consistency is key in fitness. You won’t see results overnight, but every workout counts. The small efforts add up over time and create real change.

    Reply

  1045. Virtue, they say, lies in the middle, but who among us can truly say where the middle is? Is it a fixed point, or does it shift with time, perception, and context? Perhaps the middle is not a place but a way of moving, a constant balancing act between excess and deficiency. Maybe to be virtuous is not to reach the middle but to dance around it with grace.

    Reply

  1046. Even the gods, if they exist, must laugh from time to time. Perhaps what we call tragedy is merely comedy from a higher perspective, a joke we are too caught up in to understand. Maybe the wisest among us are not the ones who take life the most seriously, but those who can laugh at its absurdity and find joy even in the darkest moments.

    Reply

  1048. Friendship, some say, is a single soul residing in two bodies, but why limit it to two? What if friendship is more like a great, endless web, where each connection strengthens the whole? Maybe we are not separate beings at all, but parts of one vast consciousness, reaching out through the illusion of individuality to recognize itself in another.

    Reply

  1049. Thanks for sharing superb informations. Your site is very cool. I am impressed by the details that you have on this site. It reveals how nicely you understand this subject. Bookmarked this website page, will come back for more articles. You, my pal, ROCK! I found just the information I already searched all over the place and just couldn’t come across. What a perfect web site.

    Reply

  1050. I¦ve been exploring for a little bit for any high quality articles or blog posts on this kind of house . Exploring in Yahoo I ultimately stumbled upon this site. Studying this info So i¦m satisfied to exhibit that I have an incredibly excellent uncanny feeling I came upon exactly what I needed. I so much unquestionably will make sure to do not fail to remember this web site and give it a look on a constant basis.

    Reply

  1051. I have not checked in here for a while as I thought it was getting boring, but the last several posts are great quality so I guess I?¦ll add you back to my daily bloglist. You deserve it my friend 🙂

    Reply

  1052. If everything in this universe has a cause, then surely the cause of my hunger must be the divine order of things aligning to guide me toward the ultimate pleasure of a well-timed meal. Could it be that desire itself is a cosmic signal, a way for nature to communicate with us, pushing us toward the fulfillment of our potential? Perhaps the true philosopher is not the one who ignores his desires, but the one who understands their deeper meaning.

    Reply

  1053. The very crux of your writing whilst appearing reasonable in the beginning, did not really work well with me personally after some time. Someplace within the sentences you actually managed to make me a believer but only for a very short while. I still have got a problem with your jumps in assumptions and you would do nicely to help fill in all those gaps. In the event that you actually can accomplish that, I could definitely be fascinated.

    Reply

  1054. The essence of existence is like smoke, always shifting, always changing, yet somehow always present. It moves with the wind of thought, expanding and contracting, never quite settling but never truly disappearing. Perhaps to exist is simply to flow, to let oneself be carried by the great current of being without resistance.

    Reply

  1055. Does your blog have a contact page? I’m having a tough time locating it but, I’d like to shoot you an e-mail. I’ve got some creative ideas for your blog you might be interested in hearing. Either way, great blog and I look forward to seeing it expand over time.

    Reply

  1056. The potential within all things is a mystery that fascinates me endlessly. A tiny seed already contains within it the entire blueprint of a towering tree, waiting for the right moment to emerge. Does the seed know what it will become? Do we? Or are we all simply waiting for the right conditions to awaken into what we have always been destined to be?

    Reply

  1057. If everything in this universe has a cause, then surely the cause of my hunger must be the divine order of things aligning to guide me toward the ultimate pleasure of a well-timed meal. Could it be that desire itself is a cosmic signal, a way for nature to communicate with us, pushing us toward the fulfillment of our potential? Perhaps the true philosopher is not the one who ignores his desires, but the one who understands their deeper meaning.

    Reply

  1058. Man is said to seek happiness above all else, but what if true happiness comes only when we stop searching for it? It is like trying to catch the wind with our hands—the harder we try, the more it slips through our fingers. Perhaps happiness is not a destination but a state of allowing, of surrendering to the present and realizing that we already have everything we need.

    Reply

  1059. The essence of existence is like smoke, always shifting, always changing, yet somehow always present. It moves with the wind of thought, expanding and contracting, never quite settling but never truly disappearing. Perhaps to exist is simply to flow, to let oneself be carried by the great current of being without resistance.

    Reply

  1060. Time is often called the soul of motion, the great measure of change, but what if it is merely an illusion? What if we are not moving forward but simply circling the same points, like the smoke from a burning fire, curling back onto itself, repeating patterns we fail to recognize? Maybe the past and future are just two sides of the same moment, and all we ever have is now.

    Reply

  1069. Friendship, some say, is a single soul residing in two bodies, but why limit it to two? What if friendship is more like a great, endless web, where each connection strengthens the whole? Maybe we are not separate beings at all, but parts of one vast consciousness, reaching out through the illusion of individuality to recognize itself in another.

    Reply

  1075. The essence of existence is like smoke, always shifting, always changing, yet somehow always present. It moves with the wind of thought, expanding and contracting, never quite settling but never truly disappearing. Perhaps to exist is simply to flow, to let oneself be carried by the great current of being without resistance.

    Reply

  1078. All knowledge, it is said, comes from experience, but does that not mean that the more we experience, the wiser we become? If wisdom is the understanding of life, then should we not chase every experience we can, taste every flavor, walk every path, and embrace every feeling? Perhaps the greatest tragedy is to live cautiously, never fully opening oneself to the richness of being.

    Reply

  1080. Friendship, some say, is a single soul residing in two bodies, but why limit it to two? What if friendship is more like a great, endless web, where each connection strengthens the whole? Maybe we are not separate beings at all, but parts of one vast consciousness, reaching out through the illusion of individuality to recognize itself in another.

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

Related News

UK Visa

Nigeria, Ghana received 43 deportees from UK

April 26, 2025 16
Pope-Francis-511x340

Pope Francis buried in Rome’s Basilica of Saint Mary Major

April 26, 2025 3