IEA Proposes Record Oil Reserve Release Amid WTI Drop of More Than 5%

KuCoinFlash

Release Time: 03/11/2026 00:30:49

Summary

On March 11, the IEA proposed a record oil reserve release to curb rising crude prices amid the U.S.-Iran conflict. The plan, discussed during an emergency meeting, involves over 182 million barrels—exceeding the 2022 release following the Russia-Ukraine war. A decision is expected on March 12. On-chain data highlights altcoins to monitor amid market volatility. At the time of writing, WTI crude fell below $82 per barrel, dropping 5.20% for the day.

BlockBeats news, on March 11, according to the WSJ, sources familiar with the matter said the International Energy Agency (IEA) has proposed releasing its largest-ever strategic oil reserves to curb the surge in crude oil prices caused by the war between the U.S., Israel, and Iran. Officials stated that the volume of oil to be released would exceed the 182 million barrels that IEA member countries released in two batches during the Russia-Ukraine conflict in 2022.

The proposal was discussed at an emergency meeting of energy officials from the 32 member countries of the International Energy Agency on Tuesday. Countries are expected to make a decision on the proposal on Wednesday. If no country objects, the proposal will be approved; however, even a single objection will delay its implementation.

As of the time of writing, WTI crude oil has fallen below $82 per barrel, down 5.20% on the day.

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