Comparing 2022 reserves to today

International Energy Agency says it will release the largest volume of emergency oil reserves in its history, as Iran forced the effective closure of the the Strait of Hormuz to shipping.

The IEA says it will make 400 million barrels of oil available from its members’ emergency reserves, which is more than double the previous high released back in 2022 in response to Russia’s full-scale invasion of Ukraine.

• GUEST: Madeleine King, Minister for Resources and Minister for Northern Australia 
• PRODUCER: Jason Whittaker