According to people familiar with the situation, the Wall Street Journal reported on Tuesday that the International Energy Agency (IEA) has suggested its largest-ever release of oil reserves to combat skyrocketing petroleum prices caused by the US-Israeli war with Iran.
According to the report, the release would surpass the 182 million barrels that IEA member nations sold after Russia invaded Ukraine in 2022.
According to the Journal, the suggestion was discussed at an urgent meeting of energy officials from the 32 member nations of the IEA on Tuesday, and a decision is anticipated on Wednesday.
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