US Energy Secretary: Confirms IEA decision to release 60M barrels from oil reserves, with half from US

The US Energy Secretary on Tuesday confirmed a decision reached by member states of the International Energy Agency to release 60M barrels of oil from their collective reserves, including 30M barrels from the US Strategic Petroleum Reserve, reported Reuters. The US stands ready to release more oil if needed to stabilise the market, the Energy Secretary added, saying also that the US will continue to advance efforts to diversify Europe's energy supply away from Russia.