Global oil stockpiles

An oil storage tank and crude oil pipeline equipment is seen during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, U.S. June 9, 2016. REUTERS/Richard Carson/File Photo
Global Economy

IEA countries to tap 60 mln barrels of oil on top of US release

The massive releases are aimed at cooling prices and easing supply concerns as sanctions and buyer aversion disrupts Russian oil supplies in the wake of its invasion of Ukraine

A general view shows a local oil refinery behind residential buildings in Omsk, Russia February 10, 2021. REUTERS/Alexey Malgavko/File Photo
Global Economy

IEA states agree on coordinated oil release but not volumes - Japan

Emptier than we thought.Photographer: SeongJoon Cho/Bloomberg
Global Economy

The world has been using a lot more oil than we thought