The IEA's members are advanced economies in North America, Europe and Northeast Asia. They collectively hold about 1.2 billion barrels of oil in reserve.

A near 14% jump in oil prices due to the Iran war triggered an emergency meeting of the G7 with plans to release strategic reserves top of the agenda.

Oil prices surged above $100 per barrel as the critical Strait of Hormuz remains closed due to threats from Iran.

The IEA's members are advanced economies in North America, Europe and Northeast Asia. They collectively hold about 1.2 billion barrels of oil in reserve.

International Energy Agency chief says talks aim to assess conditions as US-Israel war on Iran fuels global uncertainty.

A decision on this issue is to be made on March 11

Decision expected on whether to use reserves amid supply shortages and market volatility caused by Iran war

The group of nations welcomes the idea of releasing oil in response to the surge in prices since the US-Israel war with Iran began

The Iran war has triggered the biggest oil disruption in history, as tankers are unwilling to transit the Strait of Hormuz because they fear attacks.

A group representing many of the world's wealthiest countries agreed Wednesday to release the largest volume of emergency oil reserves in its history.

The International Energy Agency has agreed to release the largest volume of emergency oil reserves in its history, in a bid to counter the effects on energy markets of the war in…

The International Energy Agency (IEA) has agreed to release 400 million barrels of emergency oil reserves, marking the largest volume in its history.

The IEA's 400-million-barrel emergency release, more than double its Ukraine response, comes as Iran cut Strait of Hormuz exports to less than 10%.

The move comes as the Iran war continues to choke off traffic through the strategically vital Strait of Hormuz.

The release exceeds the 182 million barrels of oil that member countries released in 2022 when Russia invaded Ukraine.

The conflict in Iran has halted shipments through the Strait of Hormuz and pushed the price of oil and gas sharply higher.

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

The International Energy Agency announced it has agreed to take emergency action and release 400 million barrels of oil into the market.

Despite rare act of multilateralism, there is no guarantee the IEA’s release of 400m barrels from reserves will depress prices

The IEA is group of 32 advanced economies primarily in Europe, North America and northeast Asia. The U.S. is a member of the organization.

The IEA said Wednesday that its 32 member countries would release 400 million barrels of oil from emergency reserves.