March 11, 2026
Global energy coalition to release 400M barrels of oil to deal with shocks from Hormuz blockade
The International Energy Agency said Wednesday that member countries will release 400 million barrels of oil to alleviate price pressures from the war in Iran.
TL;DR
- Member countries of the International Energy Agency will release 400 million barrels of oil.
- The release aims to alleviate price pressures.
- Price pressures are attributed to the war in Iran.
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