The International Energy Agency was surprised by the Biden administration’s March 31 announcement that it would release 180 million barrels of oil from reserves over the following six months, according to a new report — with one source telling Reuters the organization was “embarrassed” that it had not been told of the move in advance. The wire service, citing “two sources familiar with the matter,” reported Monday that the White House had failed to notify the IEA that it would announce the release from the Strategic Petroleum Reserve (SPR) a day ahead of an extraordinary meeting of the organization to discuss a coordinated supply boost. “The IEA was embarrassed by the [US] release which was at the start done essentially unilaterally by the US,” one of the sources was quoted as saying.
Load More
Load More