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400 million barrels of emergency oil reserves to be released to calm surging prices
The International Energy Agency (IEA) has agreed to release 400 million barrels of emergency oil reserves, marking the largest volume in its history.
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huffpost.com
International Energy Agency Mulls Largest Ever Oil Release To Lower Crude Prices: Report
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cnbc.com
IEA countries to meet later Tuesday on release of oil reserves, but no decision made yet
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.
