IEA's Birol says oil prices starting to fall after reserve release decision

Oil ​prices have ​started to fall ‌after a ​decision to release 100 million barrels ‌of oil and fuel reserves, International Energy Agency chief Fatih Birol said on Friday. "We ‌took a step today on ‌diesel. We held a meeting with world leaders and announced that we would start ⁠releasing ​100 million ⁠barrels of oil again," Birol said. "Prices are ⁠starting to fall."

"I hope this will be ​a beneficial step both for ⁠the world and for Turkey," he added. Birol was ⁠speaking ​in Istanbul at a press meeting titled "Financing the Transformation: ⁠Turkey on the Road to COP31", hosted ⁠by ⁠Turkey's Banks Association Chairman Alpaslan Cakar.