International Energy urges oil-producing countries to increase production
Shafaq News/ On Monday, the International Energy Agency urged oil countries to pump more crude to stabilize markets affected by the Ukrainian crisis.
"After initially withdrawing 62 million barrels, the IEA will withdraw more if current conditions continue or worsen," Agency Director Fatih Birol said at an energy conference held in the Saudi capital, Rabat.
"Every oil-producing country should be responsible and pump more oil into the market," he added.
As a result of the rise in oil prices, millions of barrels of strategic oil reserves were announced in America, China, Japan, India, South Korea and the United Kingdom. However, the war in Ukraine led to a significant increase in oil prices, reaching $139 a barrel before dropping slightly.
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