IEA Mulls Emergency Action To Unleash Oil Reserves

Global energy leaders are gathering to decide whether to release emergency oil reserves as production and export disruptions tied to the Middle East conflict continue to strain global markets. The International Energy Agency hosted G7 energy ministers at its Paris headquarters on Tuesday, where Executive Director Fatih Birol warned that conditions in oil markets have deteriorated in recent days. Shipments through the Strait of Hormuz have been disrupted, forcing some producers in the region to curtail output, creating what the agency described…