(VOVWORLD) - The International Energy Agency (IEA) will release 120 million barrels of oil, half of which will come from the US. Other IEA members will provide the rest.
 Oil-storage tanks are seen from above in Carson, California (Photo: AFP/VNA) |
The IEA's decision comes as major oil-consuming countries around the world are looking for ways to mitigate the impact of soaring global gasoline prices, which have risen 30 percent since the beginning of the year. The Organization of Petroleum Exporting Countries and its partners, (known as OPEC+), will stick to its plan to add a modest 432,000 barrels per day until May.