The International Energy Agency (IEA) on Wednesday recommended the release of 400 million barrels of oil, the largest such move in its history, to try to restrain soaring crude prices amid the U.S.-Israeli war with Iran.
The IEA said the release had been unanimously agreed by 32 member countries, with timing to be set out in due course. The Paris-based IEA made its comments as French President Emmanuel Macron chaired a meeting of G7 leaders that will discuss the issue.
