The International Energy Agency (IEA) is still examining details of a planned second round of the coordinated release of oil reserves, Japanese industry minister Koichi Hagiuda said on Tuesday (Apr 5).

Japan aims to make a decision on its release plan swiftly after receiving official notification from the IEA to make the cooperative action effective, Hagiuda told a news conference.

US-allied countries on Friday agreed to their second coordinated oil release in a month to calm markets roiled by Russia’s invasion of Ukraine, the IEA said, without specifying volume, but adding details will be made public early this week.

Russia calls its actions in Ukraine a “special operation”.
Source: Reuters