IEA reportedly proposes largest release of stockpiled oil to reduce crude price

2026-03-11 - 10:03

Decision expected on whether to use reserves amid supply shortages and market volatility caused by Iran war Business live – latest updates Middle East crisis live – latest updates The International Energy Agency is reportedly proposing the largest release of oil reserves in its history to bring down crude prices that have soared during the US and Israel’s war on Iran. The release would outstrip the 182m barrels of oil put on the market by IEA countries across two releases in 2022 after Russia’s full-scale invasion of Ukraine, the Wall Street Journal reported, citing unnamed officials. Continue reading...