The International Energy Agency proposes accessing strategic oil reserves to combat rising prices caused by the conflict in the Middle East.

The IEA proposes accessing strategic oil reserves to combat rising prices caused by the conflict in the Middle East.

This initiative would exceed the 182 million barrels of oil released by the IEA in 2022, in the context of Russia's invasion of Ukraine. The proposal was discussed at an extraordinary IEA meeting in Paris, and a final decision is expected on Wednesday. On the same day, G7 leaders will hold a video conference to analyze the economic consequences of the war, which has recently pushed oil prices above 100 dollars per barrel.