The volume of oil and petroleum products to be released from strategic reserves by member countries of the International Energy Agency (IEA) will exceed 400 million barrels.
According to Report, citing foreign media, the IEA said this in a press release.
"Some IEA members have released larger volumes to the market than initially announced in March, while others intend to do the same. As a result, the total volume of reserves to be released will exceed the initially planned 400 million barrels," the agency said.
In March, IEA member countries agreed on a collective release of 400 million barrels of oil reserves, the largest such move in the agency's history.
The decision was taken amid supply disruptions caused by the situation in the Strait of Hormuz.