The International Energy Agency is reportedly considering a recommendation to release a record 400 million barrels of oil from strategic reserves to address rising oil prices amid ongoing tensions related to Iran, according to a report.

The potential release would represent one of the largest coordinated draws from strategic petroleum reserves in the IEA's history. The agency's member countries currently maintain approximately 1.2 billion barrels in public strategic oil stocks.

The reported recommendation comes as global oil markets face pressure from geopolitical tensions involving Iran. Strategic petroleum reserve releases are typically used as emergency measures to stabilize oil markets during supply disruptions or significant price volatility.

The IEA, established in 1974 following the oil crisis, coordinates energy policies among 31 member countries and maintains the authority to recommend coordinated releases from strategic reserves during energy emergencies. Previous large-scale releases have occurred during major supply disruptions, including the 2011 Libyan conflict and following Hurricane Katrina in 2005.

If implemented, the release would require coordination among IEA member nations, each of which maintains its own strategic petroleum reserves as part of the collective 1.2 billion barrel stockpile. The timing and specific allocation among member countries would need to be determined through the agency's established protocols.