The International Energy Agency (IEA) said on Wednesday that its member countries have agreed to release 400 million barrels of oil in response to the Iran war, the largest emergency distribution in history and more than double the delivery after the Russian invasion of Ukraine.
“The oil market challenges we are facing are unprecedented in scale, therefore I am very glad that IEA member countries have responded with an emergency collective action of unprecedented size,” said IEA executive director Fatih Birol.
