TOKYO - The International Energy Agency said Wednesday that its 32 member countries unanimously agreed to release 400 million barrels of oil from their emergency reserves to address disruptions in energy markets stemming from the conflict in the Middle East, making it the largest-ever such drawdown.
The announcement was made as the leaders of the Group of Seven industrialized nations, all of which are members of the IEA, met virtually to discuss the Middle East situation amid the ongoing U.S.-Israeli attacks on Iran.
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