KATHMANDU: The member countries of the International Energy Agency (IEA) have so far sent 325 million barrels of oil and oil products from strategic reserves to the market, according to the IEA.

This is part of the 400 million barrels pledged in March to avoid fuel shortages in the international market.

The update comes a day after the world’s top seven major economies (G7) agreed to work with the IEA to immediately release an additional 100 million barrels of diesel and crude oil to the market to ease global energy supply concerns over the effects of the US-Iran war.

The G7 did not say whether the 100 million barrels included the remaining 75 million barrels from the IEA’s commitment in March.