IEA's Birol says oil prices starting to fall after reserve release decision

By Reuters News

ISTANBUL, Oct 2 (Reuters) - Oil prices have started to fall after a decision to release 100 million barrels of oil and fuel reserves, International Energy Agency chief Fatih Birol said on Friday.

"We took a step today on diesel. We held a meeting with world leaders and announced that we would start releasing 100 million barrels of oil again," Birol said. "Prices are starting to fall."

"I hope this will be a beneficial step both for the world and for Turkey," he added.

Birol was speaking in Istanbul at a press meeting titled "Financing the Transformation: Turkey on the Road to COP31", hosted by Turkey's Banks Association Chairman Alpaslan Cakar.

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