IEA agrees record release of oil reserves to counter soaring energy prices

Proposed release is larger than the 182 million barrels of oil that IEA members released after Russia invaded Ukraine in 2022.

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The International Energy Agency (IEA) has agreed to release 400 million barrels of oil from its members’ strategic reserves, in an attempt to counter soaring global energy prices amid the United States-Israeli war on Iran.

The proposed release is larger than the 182 million barrels of ⁠oil that IEA member ⁠countries released in 2022 ⁠after Russia launched its ⁠full-scale invasion ⁠of Ukraine.

IEA agrees record release of oil reserves to counter soaring energy prices

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IEA proposes largest ever oil release from strategic reserves — WSJ

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IEA proposes largest ever oil release from strategic reserves — WSJ

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