IEA agrees to record release of emergency oil reserves in an effort to calm surging prices
The Paris-based organization said it will make 400 million barrels of oil available from its members’ emergency reserves.

WHAT’S HAPPENING TODAY: Good afternoon and happy Wednesday, readers! We’ve had another glorious day in Washington, D.C., today – not too often it hits 80° in the District without heavy and thick humidity. 🔥 🌡️ Be sure to get outside if you haven’t yet! If you missed it this morning, members of the International Energy…
The Paris-based organization said it will make 400 million barrels of oil available from its members’ emergency reserves.
"The oil market challenges we are facing are unprecedented in scale," IEA Executive Director Fatih Birol said Wednesday.
The Trump administration plans to release 172 million barrels from the US emergency oil reserve as part of the coordinated effort by nations around the world to ease surging crude and gasoline prices amid the Iran war.