By Alyssa Lukpat
The U.S. has agreed to release more oil reserves than any other country as part of the International Energy Agency's emergency release, according to Fatih Birol, the IEA's executive director. The U.S. is the biggest contributor with more than 172 million oil barrels, followed by Japan with nearly 80 million barrels, according to the agency. Their releases account for more than half of the 426 million barrels that IEA member countries are set to release from their emergency stocks in a bid to bring down crude prices.
The next highest contributors are Canada (23.6 million barrels), South Korea (22.5 million), Germany (19.5 million), France (14.6 million) and the U.K. (14 million), according to the agency. Several countries-Luxembourg, Belgium, Estonia and Latvia-are releasing less than a million barrels each, according to the IEA.
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(END) Dow Jones Newswires
March 19, 2026 15:19 ET (19:19 GMT)
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