【Iran Crisis】The International Energy Agency reportedly proposes releasing over 180 million barrels of oil reserves, causing oil prices to shift from rising to falling

SocialAnxietyStaker · 2026-03-11T00:46:40+00:00

The International Energy Agency has proposed releasing the largest amount of oil reserves in history to curb rising oil prices caused by the war between the United States, Israel, and Iran. The release exceeds the 180 million barrels during the Russia-Ukraine war in 2022. The Group of Seven is discussing this plan but has not yet made a decision. Oil prices have shifted from rising to falling.

SocialAnxietyStaker

2026-03-11 00:46:40

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The International Energy Agency (IEA) has reportedly proposed releasing its largest-ever stockpile of oil to lower soaring prices driven by the war involving the United States, Israel, and Iran. The proposal was made during an emergency meeting of energy officials on Tuesday, with the amount of oil to be released exceeding the 180 million barrels released twice during the 2022 Russia-Ukraine war. Countries are expected to decide on the proposal by Wednesday. However, if any country objects, the plan may be delayed.

Oil prices have shifted from gains to declines, with Brent crude latest at $87.37, down 0.5%.

Earlier, the G7 finance ministers held an emergency meeting to discuss a coordinated release of strategic oil reserves led by the IEA. French Finance Minister Roland Lescure stated that the G7 has not yet made a decision regarding the potential release of emergency oil reserves following the Israel-U.S. war.

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