IEA proposes largest on record release of oil reserves, WSJ says

The International Energy Agency has proposed the release of the largest amount of oil reserves in its history, The Wall Street Journal’s Matthew Dalton and Bojan Pancevski report, citing officials familiar with the matter said. The release is said to top the 182 million barrel release that IAEA member countries conducted in 2022 when Russia attacked Ukraine, the report states. The proposal is said to have been circulated at the IEA member countries’ emergency meeting today, and the decision on the proposal is expected on Wednesday, WSJ states.