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International Energy Agency – On February 25, IEA Executive Director Fatih Birol convened representatives of the IEA’s thirty-one member countries, who “expressed great concern over the destruction and loss of life” and said they would closely monitor impacts on energy markets. In response to the threat the Russian invasion posed to global oil markets, on March 1 the IEA Governing Board, chaired by U.S. Secretary of Energy Jennifer M. Granholm, authorized the release of 61.7 million barrels of oil from member countries’ strategic petroleum reserves. “The situation in energy markets is very serious and demands our full attention. Global energy security is under threat, putting the world economy at risk during a fragile stage of recovery,” Birol said. On April 1, the Governing Board announced a second release of emergency oil stocks, making another 120 million barrels available for oil markets.