The International Energy Agency (IEA) has asked its members to release oil from their reserves in the largest-ever amount to combat the spike in the commodity's prices amid the conflict in the Middle East, The Wall Street Journal (WSJ) reported.
According to people familiar with the matter, the IEA has proposed an amount that would top the 182 million barrels that were released in 2022, when Russia launched its military campaign in Ukraine.
The vote on the proposal will reportedly take place on Wednesday. To pass, it must be approved by all the members of the organization.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.