India welcomes IEA decision to carry out largest oil stock release

The Indian government on Wednesday welcomed the decision of global energy body IEA to release emergency oil stocks amid the prevailing supply disruptions due to Middle East war. IEA, which comprises 32 member nations, said they're undertaking the largest-ever oil stock release after agreeing to release 400 million barrels of oil. Notably, India is an associate member of IEA.