Countries agree to record release of emergency oil reserves as prices surge

The G7 group of nations welcomes the idea of releasing oil in response to the surge in prices since the US-Israel war with Iran began

G7 finance ministers discuss the economic impact of the US-Israel war with Iran and express readiness to release emergency oil reserves to stabilize global markets.

The International Energy Agency proposes releasing a record 400 million barrels of oil to stabilize prices amid the Iran conflict, with member countries set to vote on the plan.

The International Energy Agency announces a unanimous decision to release 400 million barrels of emergency crude oil, the largest in its history, to mitigate the impact of the Iran war on global oil prices.

The International Energy Agency agrees to release 400 million barrels of oil to prevent further price increases amid attacks on ships in the Strait of Hormuz during the Iran conflict.

The International Energy Agency's decision to release 400 million barrels of emergency oil reserves aims to stabilize prices amid the Iran conflict, but questions remain about its sufficiency.