IEA announces release of record 400 million barrels of oil to counter war price hikes

Published March 11, 2026 10:13am ET



The International Energy Agency announced the release of 400 million barrels from strategic oil reserves to curb prices driven up by the war in Iran.

The release is the largest ever coordinated by the agency, more than doubling the 182 million barrels released in 2022 after Russia invaded Ukraine.

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