00:00The conflict in the Middle East is having significant impacts on global oil and gas markets with major implications for
00:11energy security, energy affordability, and the global economy.
00:18IEA countries have unanimously decided to launch the largest ever release of emergency oil stocks in our agency's history.
00:33IEA countries will be making 400 million barrels of oil available.
00:40I repeat, 400 million barrels of oil available to the market to offset the supply lost through the effective closure
00:50of the strait.
00:53This is a major action aiming to alleviate the immediate impacts of the disruption in markets.
01:02But, to be clear, the most important thing for a return to stable flows of oil and gas is the
01:11resumption of transit through the strait of Hormuz.
01:16So, this could Hurlbose was very
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