The International Energy Agency (IEA) on Thursday declared thats its 28 member countries have agreed to release 60 million barrels of oil in the coming month in reaction to the in progress interruption of oil supplies from Libya.
The oil supply interruption from Libya, which is absorbed in a civil war, has continued to aggravate over the past few months. The normal seasonal growth in refiner demand asked for this summer will worsen the deficit further, and greater closeness in the oil market
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