Insiders: IEA plans to use 400 million barrels of reserves to drive down prices, a scale twice that of the Russia-Ukraine conflict period

Golden Ten Data reported on March 11 that, according to informed sources, a decision may be made later on Wednesday. The source stated that as governments around the world seek to curb the surge in energy prices triggered by the Middle East war, this Paris-based institution is responsible for coordinating the release of inventories among OECD countries. The G7 has indicated its support in principle for "active measures," including the release of strategic reserves, but has not yet provided details on the potential scale of intervention. The International Energy Agency stated that its 32 member countries hold over 1.2 billions barrels of emergency stockpiles, including the largest buffer reserve—the United States Strategic Petroleum Reserve (SPR).