IEA says 325 million barrels of emergency oil released, with 75 million still to come

The International Energy Agency said Saturday that member countries had so far released 325 million barrels of oil and oil-derivative products from strategic reserves, from the 400 million barrels promised in March. The update came a day after G7 leaders, in a statement issued by French President Emmanuel Macron's office, agreed in coordination with the IEA to immediately release 100 million barrels of diesel and crude oil, following US pressure on Europe to tap its reserves and ease supply concerns caused by the US-Iran war. The G7 did not say whether the 100 million barrels included the outstanding 75 million barrels from the March IEA commitment, or came on top of that.