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IEA statement on US announcement of oil release

23 November 2021

We note the announcement by the US government of its release of additional oil into the market in parallel with other countries, including China, India, Japan, Korea and the United Kingdom. We recognise that the rise in oil prices is placing a burden on consumers and has added to inflationary pressures during a period when the economic recovery remains uneven and faces a range of risks. In this context, we respect the assessments and decisions made by individual IEA member and partner countries on how best to respond to the specific challenges and circumstances they each face.