Deliveries of 400 million barrels of oil from strategic reserves to start this week
The delivery of 400 million barrels of oil from the strategic reserves of the International Energy Agency member countries to the global market is expected to begin this week. The process will take between two and four months.
Experts believe this measure will unlikely have a significant impact on the market overall. The release of reserves can only soften the sharp rise in global prices and keep them within the $90-100 per barrel range for a few weeks.
Replenishing reserves for some countries could take up to three years, maintaining high demand and continuing to pressure oil prices.
Thus, while the temporary increase in supply may ease some price pressure, the long-term replenishment of reserves will leave the energy market uncertain.
It is expected that market fluctuations will continue in the coming months, and stabilising prices will require further measures.
