NEW YORK, March 11. /TASS/. The International Energy Agency has proposed the largest release of oil reserves in its history to bring down the crude prices that soared triggered by the US-Israel war with Iran, The Wall Street Journal reported citing officials familiar with the matter.
The release would exceed the 182 million barrels of oil that the IEA ·member countries put onto the market in two releases in 2022, WSJ said.
A decision on this issue is to be made on Wednesday.
The proposal would be adopted if no nation objects.
On Wednesday, IEA Executive Director Fatih Birol said that the IEA member states have more than 1.2 billion barrels of state emergency oil reserves and 600 million barrels of industrial reserves.
