Dozens of countries have agreed to release a record amount of oil from emergency reserves, in an effort to stabilise global supply and curb soaring prices.

All 32 members of the International Energy Agency, including the United States and the United Kingdom, will release a combined 400 million barrels, as the agency warns of supply disruptions it describes as unprecedented in scale.

The move comes amid heightened global energy market volatility and fears of prolonged supply disruptions. Channel Africa's economics reporter Innocent Semosa has more.

Dozens of countries have agreed to release a record amount of oil from emergency reserves, in an effort to stabilise global supply and curb soaring prices.
All 32 members of the International Energy Agency, including the United States and the United Kingdom, will release a combined 400 million barrels, as the agency warns of supply disruptions it describes as unprecedented in scale.
The move comes amid heightened global energy market volatility and fears of prolonged supply disruptions. Channel Africa's economics reporter Innocent Semosa has more.

In-depth financial issues, profiling of African businesses doing well internationally, stocks & market updates.

In-depth financial issues, profiling of African businesses doing well internationally, stocks &amp; market updates.