IEA says 325 million barrels of emergency oil already released, 75 million still to come

The International Energy Agency said on October 3 that around 325 million of the 400 million barrels its 32 member countries pledged in March have already been released, leaving 75 million barrels of that original commitment outstanding. The statement came a day after the G7 promised a further 100 million barrels over four months, but the IEA did not specify whether the new barrels count against the outstanding 75 million or come on top of them, leaving unclear how much genuinely new oil is actually on its way. The ambiguity makes it hard to know how quickly Europe's record diesel prices can ease.

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