IEA proposes largest ever oil release from strategic reserves, WSJ says

March 12,2026

The International Energy Agency has proposed the largest release of oil reserves in its history to restrain soaring ​crude prices amid the U.S.-Israel war with Iran, the Wall Street Journal ‌said on Tuesday, citing officials familiar with the matter.

The release would exceed the 182 million barrels of oil that IEA member nations put on the market in two releases ​in 2022 when Russia launched its full-scale invasion of Ukraine, the ​newspaper said.