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March 12, 2026

Nations pledge huge oil reserve release

PARIS (AP) — The International Energy Agency has agreed to release the largest volume of emergency oil reserves in its history, in a bid to counter the effects on energy markets of the war in the Middle East.

The Paris-based organization said Wednesday that it will make 400 million barrels of oil available from its members' emergency reserves. It's a larger stock than the 182.7 million barrels that were released in 2022 by the IEA's 32 member countries in response to Russia's full-scale invasion of Ukraine.


 
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