Following the announcement by the International Energy Agency (IEA), the largest oil infusion was from the emergency reserve. U.S. President Joe Biden commented on Twitter:

"Last week I announced the biggest-ever liberalization of the strategic petroleum reserve, and today the rest of the world joins us, releasing 240 million barrels of oil in total."

The move "would lead to an expansion of supply to oil and gas companies, and now they have to reduce prices for consumers."

In a statement, the White House said that the administration of the United States President, Joe Biden, would continue to find ways to reduce the energy bills of Americans, as it joined global allies in agreeing to a historic liberalization of 240 million barrels of oil from their shared reserves.

"We will continue to take every possible measure to increase supply in the near term so that families can pay for gas, while working with the international community to achieve energy independence, which reduces oil demand and boosts our clean energy economy."

"180 million barrels of U.S. strategic petroleum reserves and 60 million barrels due from other IEA member states' reserves will be the largest ever."

The International Energy Agency confirmed the contributions of member States to the second collective action for the release of oil stocks in response to the Russian military operation in Ukraine, according to a statement.

The Agency stated that member commitments amounted to 120 million barrels over 6 months.

America will draw 60 million barrels of oil from its strategic stocks, while Japan will release 15 million.

Other major contributors include South Korea, Germany, France, Italy and Britain.

The US administration announced last November that 50 million barrels of strategic reserve would be withdrawn in coordination with other countries.

Following the start of military operations in Ukraine, America and 30 other States announced an additional 60 million barrels of reserves.