IEA launches record 400m-barrel oil release to tackle Middle East crisis
IEA members collectively hold more than 1.2 billion barrels in emergency reserves.
The International Energy Agency has announced the largest emergency oil release in its history, as escalating conflict in the Middle East sharply constrains global energy supplies. All 32 IEA member countries agreed unanimously to deploy 400 million barrels from their strategic reserves to stabilise markets rattled by the crisis.
The decision followed an extraordinary meeting of member governments, convened to assess the fallout from the conflict that began on 28 February. The fighting has severely restricted shipments through the Strait of Hormuz, a chokepoint that handled around 20 million barrels a day in 2025, a quarter of the world’s seaborne oil trade. Current export volumes have fallen to less than 10% of pre‑conflict levels, forcing regional producers to curtail output.
IEA Executive Director Fatih Birol described the situation as “unprecedented in scale,” praising member states for acting with “strong solidarity” to confront a global supply shock.
The release will be calibrated according to each country’s national circumstances and may be supplemented by additional emergency measures. IEA members collectively hold more than 1.2 billion barrels in emergency reserves, alongside a further 600 million barrels in industry stocks under government obligation.
