Skip to Main ContentInternational Energy Agency Mulls Largest Ever Oil Release To Lower Crude Prices: ReportThe International Energy Agency has proposed releasing 400 million barrels of oil, its largest-ever oil reserves release, to counter the impact of the effective closure of the Strait of Hormuz amid the war in Iran, The Wall Street Journal reported.The agency, made up of Western countries and their allies, is set to weigh the proposal meant to lower crude prices on Wednesday, the Journal noted.But the newspaper explained that previous releases from strategic reserves haven't always had the intended result, at least at first.Read more at The Wall Street Journal:See All UpdatesClose