South Korea to release record 7.23 million barrels of strategic petroleum reserves

South Korea has decided to release record 7.23 million barrels of strategic petroleum reserves in addition to its recent commitment of 4.42 million barrels in an effort to cool surging oil prices and tame accelerating inflation, the energy ministry said April 8. “The 7.23 million barrels marks the biggest-ever in South Korea’s release of SPR,” the Ministry of Trade, Industry…