IEA proposed release would exceed the 182 million barrels withdrawn in two rounds in 2022
The International Energy Agency (IEA) proposed the largest oil stock release in its history to curb prices that surged after the outbreak of conflict in the Middle East, according to a report by The Wall Street Journal. 
Citing people familiar with the matter, the report said the proposed release would exceed the 182 million barrels withdrawn in two rounds in 2022 following the start of the Russian invasion of Ukraine.
The proposal was presented during an emergency meeting of energy officials from the agency’s 32 member states on March 10 evening, with a final decision expected today, March 11.
If no member objects, the plan could be adopted immediately, though opposition from even one country could delay the move, officials said.
IEA proposed release would exceed the 182 million barrels withdrawn in two rounds in 2022
The International Energy Agency (IEA) proposed the largest oil stock release in its history to curb prices that surged after the outbreak of conflict in the Middle East, according to a report by The Wall Street Journal.
Citing people familiar with the matter, the report said the proposed release would exceed the 182 million barrels withdrawn in two rounds in 2022 following the start of the Russian invasion of Ukraine.
The proposal was presented during an emergency meeting of energy officials from the agency’s 32 member states on March 10 evening, with a final decision expected today, March 11.
If no member objects, the plan could be adopted immediately, though opposition from even one country could delay the move, officials said.
