IEA, Oil Supply Disruption and World Faces Largest-Ever
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Proven reserves totaled 300 mmboe, the highest value in the last four years. The reserves replacement ratio reached 121%, driven by the execution of recovery projects. The average reserve life stands at 7.8 years for the Ecopetrol Group. BOGOTÁ, Colombia ...
The Group of Seven countries are considering releasing emergency oil stocks to address the Middle Eastern supply crisis, the International Energy Agency said on Monday, as oil prices surged to as high as almost $120 per barrel.
The International Energy Agency has agreed to release a record 400 million barrels of oil to combat a spike in energy prices amid the Middle East conflict.