Kentucky, March 12 -- US president Donald Trump on Wednesday (local time) said that the International Energy Agency (IEA) has agreed to coordinate the release of 400 million barrels of oil from national petroleum reserves worldwide in a bid to reduce prices amid conflict involving Iran.

Addressing a gathering here, Trump said, "I'm pleased to report that earlier today, the International Energy Agency agreed to coordinate the release of a record 400 million barrels of oil from various national petroleum reserves around the world, which will substantially reduce the oil prices, as we end this threat to America and this threat to the world."

He said the coordinated move was aimed at keeping global energy supplies stable while the United St...