IEA states agree on coordinated oil release, details forthcoming - Japan

Member countries of the International Energy Agency committed to another coordinated oil release in an extraordinary meeting on Friday, according to Japan's industry ministry.

Volumes and timing of the second tapping of strategic storage by U.S.-allied countries in the wake of Russia's invasion of Ukraine could be agreed within a week, Hidechika Koizumi, director of International affairs division at Japan's Ministry of Economy, Trade and Industry told reporters. (Reporting By Yuka Obayashi; writing by Noah Browning; editing by David Evans)