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IEA Reportedly Proposes Largest Ever Oil Reserve Release
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The International Energy Agency (IEA) has proposed the largest oil reserve release in history to reduce soaring crude oil prices during the Iran war, The Wall Street Journal reported, citing sources. It is understood that the total amount of oil to be released this time will exceed the 182 million barrels that the IEA released twice during the Russian invasion of Ukraine in 2022. The proposal was presented at an emergency meeting of the IEA on Tuesday (10th). The 32 member countries are expected to make a decision on Wednesday (11th), though the plan could be delayed by opposition from only one country. AAStocks Financial News |
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