Tokyo: The International Energy Agency (IEA) has expressed its readiness to release additional oil reserves to the market if necessary. This announcement was made by IEA head Fatih Birol during his visit to Tokyo. The statement came in response to a request from Japanese Prime Minister Sanae Takaichi, who emphasized the need for additional oil releases in the event of a prolonged war in the Middle East.

According to Azeri-Press News Agency, earlier this month, the IEA declared that its member countries would release a total of 400 million barrels of oil from their reserves. This decision was made to alleviate the potential impact of ongoing conflicts in the Middle East. The release marks the largest in history, showcasing the IEA's commitment to stabilizing the global oil market amidst geopolitical tensions.