IEA Discusses 100M-Barrel Oil Release to Ease Fuel Crunch

The International Energy Agency (IEA)'s Governing Board is meeting today to deliberate a significant release of 100 million barrels of oil and diesel stocks, aimed at alleviating the current global fuel supply crunch. This move follows earlier discussions among EU nations regarding the specifics of the planned release. Such a substantial increase in supply could put downward pressure on international crude oil prices, potentially easing global inflationary concerns and impacting Pakistan's import costs, which might influence USD/PKR stability and gold's safe-haven appeal.

بحوالہ / Source: oilprice.com