Expert Questions Impact of Global Oil Reserve Release

Market analyst Alex Longley has raised concerns about the International Energy Agency's announcement of releasing 400 million barrels of oil reserves. According to Jin10, the key issue is the speed at which this oil can enter the market and the level of release. The statement did not provide specific details on these aspects. In 2022, the United States released oil at a maximum daily rate slightly exceeding 1 million barrels, averaging around 900,000 barrels per day over a three-month period. A similar situation might occur this time. U.S. Energy Secretary Wright noted that the previous release had some impact, suggesting that this could be the first time countries globally release reserves as quickly as possible, potentially reaching unprecedented levels. The main question remains about the scale of the release. Informal discussions with traders and analysts indicate that the market has yet to reach a consensus on this matter.