Major economies consider releasing oil reserves to counter price hikes following conflict with Iran

Major economies may release oil reserves to counter price hikes following conflict with Iran. G7 nations are ready to release 300-400 million barrels, the largest ever, to stabilize markets after attacks on Iran. This is significant but may not fully replace the 20 million barrels daily through the Strait of Hormuz. While pipeline exports from Saudi Arabia and UAE could increase, and China holds substantial reserves, their willingness to release them remains uncertain. The US also has political considerations regarding its reserves.