Brief by Shorts91 Newsdesk / 02:54pm on 11 Mar 2026,Wednesday International
The International Energy Agency (IEA) has agreed to release 400 million barrels of oil from emergency reserves. The decision was taken by all 32 member countries. The move comes as the Iran war raises fears of global oil supply disruptions. The IEA said the oil will be released based on each country’s national situation. Strategic reserves are usually used during major supply crises or when oil prices rise sharply. The step aims to stabilise global energy markets and ensure steady supply. Officials said the release will help reduce pressure on oil prices and support countries facing shortages during the ongoing Middle East tensions.
