IEA To Release 400 Million Barrels Of Oil Amid Middle East Crisis

The 32 member countries of the International Energy Agency have unanimously agreed to release 400 million barrels of oil from their emergency reserves to stabilize global markets disrupted by the ongoing Middle East conflict.

The IEA was established in 1974 to ensure global energy security following the oil crises of the 1970s.

Today, the agency’s role is critical as the ongoing war in the Middle East, which began on 28 February 2026, has severely disrupted flows through the Strait of Hormuz, reducing exports to less than 10% of pre-conflict levels.

In 2025, an average of 20 million barrels per day transited the Strait, representing around a quarter of the world’s seaborne oil trade. This coordinated release is the largest in the IEA’s history.

“The oil market challenges we are facing are unprecedented in scale, therefore I am very glad that IEA Member countries have responded with an emergency collective action of unprecedented size,” said Fatih Birol. “Oil markets are global, so the response to major disruptions needs to be global too.”

The release will be phased according to each member country’s national circumstances, with some nations supplementing it with additional emergency measures.

The coordinated stock release is the sixth in the IEA’s history, following previous actions in 1991, 2005, 2011, and twice in 2022. The IEA holds more than 1.2 billion barrels in emergency stocks, with an additional 600 million barrels held under industry obligations.

The agency will provide further details on the release timeline and continue monitoring global oil and gas markets closely.