IEA proposes record oil reserve release amid Iran war - WSJ
The International Energy Agency has proposed the largest release of oil reserves in its history to curb surging crude prices amid the Iran war, the Wall Street Journal reported, citing officials familiar with the matter.
The proposed release would exceed the 182 million barrels that IEA member countries put on the market in two rounds in 2022 after Russia launched its full-scale invasion of Ukraine.
The IEA called an extraordinary meeting of member countries on Tuesday and they are expected to decide on the proposal the following day.
