U.S., allies weigh oil reserves release – sources

The US and its allies are weighing an oil reserve launch amid hovering costs and concern about provides after Russia invaded Ukraine, an OPEC+ supply and a senior business supply instructed Reuters.

The senior business supply stated the quantities weren’t but determined.

“The U.S. crude shall be candy and the quantity remains to be underneath dialogue,” the supply stated. “Europe will primarily launch merchandise.”

Earlier the Wall Road Journal stated the nations had been contemplating a launch of 70 million barrels, whereas Bloomberg reported they had been weighing a launch of about 60 million barrels.