Paris, France, March 11, 2026 (AFP) - Strategic oil reserves are a crisis cushion

NAMPA / AFP

2026-03-11

The 32 member countries of the International Energy Agency (IEA) decided on Wednesday to unlock 400 million barrels of oil from their reserves -- the biggest such release ever -- to ease the impact of the Middle East war. Strategic oil reserves act as a cushion in case of economic shocks or disruptions. Here is an explainer on how and why they came about. - Why store oil? - Oil powers cars, boats and planes. Covering around one third of global......

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Business & Finance News

Dubai, March 11, 2026 (AFP) - Companies evacuate Dubai financial district after Iran threats

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Budapest, March 11, 2026 (AFP) - Hungary sends team for pipeline talks denied by Ukraine

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