Dozens of countries agreed to release 400 million barrels of oil. But it didn't bring down prices.
Oil Prices,Oil Stockpiles,emergency oil reserves,Oil,Middle East,Iran,Global Markets,Global Oil Supply,global energy markets
From the Left
AllSides Media Bias Rating: Lean Left
The International Energy Agency said Wednesday that member countries had unanimously agreed to release 400 million barrels of oil from their reserves in a bid to ease prices that are soaring due to the Iran war.
Check for Bias
The AI-powered AllSides Bias Checker instantly reveals the bias of a news article. Tap the button to use.
Related Coverage
AllSides Picks
Headline Roundup
Trump-Venezuela Oil Deal Raises Questions Over Gas Prices and US Energy Security
September 1st, 2026
Headline Roundup
Trump Calls Venezuela Oil Agreement the 'Biggest Oil Deal in World History'
August 30th, 2026
Story of the Week
Trump’s US-Venezuela Oil Deal
AllSides Staff
September 3rd, 2026
News
Tracking Trump’s Campaign Promises
AllSides Staff
September 2nd, 2026
More News about Energy
News from the Left
News from the Center
News from the Right
Venezuela grants U.S.-backed oil firm NABEP 100-year concessions for 17 oil fields, White House says
CNBC