IEA to release record 400 million barrels of crude oil to calm global markets | DW News

In response to the Iran war, the International Energy Agency says its 32 member countries will unlock a record 400 million barrels of oil from their strategic reserves to stabilize soaring energy prices. That includes countries like Germany and Japan that will now draw on their emergency stocks as the turmoil in the Middle East disrupts supplies. The IEA warned that the global oil market was facing unprecedented challenges due to the war. 00:00 IEA will unlock a record 400 million barrels of oil from their strategic reserves 01:29 Christof Rühl, an expert on international energy economics 05:40 Steven Beardsley from DW Business #dwnews #iranwar #oil For more news go to: http://www.dw.com/en/ Follow DW on social media: ►Instagram: https://www.instagram.com/dwnews ►TikTok: https://www.tiktok.com/@dwnews ►Facebook: https://www.facebook.com/deutschewellenews/ ►Twitter: https://twitter.com/dwnews Für Videos in deutscher Sprache besuchen Sie: https://www.youtube.com/dwdeutsch Subscribe: https://www.youtube.com/user/deutschewelleenglish?sub_confirmation=1