The International Energy Agency (IEA) said its 32 member countries have agreed to release 400 million barrels of oil from emergency reserves to help address supply disruptions in global markets following the war in the Middle East.
The decision was taken after an extraordinary meeting of IEA member governments convened to review market conditions and assess possible responses to the ongoing conflict.
“The oil market challenges we are facing are unprecedented in scale,” said IEA Executive Director Fatih Birol. “Therefore I am very glad that IEA Member countries have responded with an emergency collective action of unprecedented size.”
The agency said the emergency stocks will be made available to the market over a period suited to the national circumstances of each member country. Some governments may also introduce additional measures to support supply.
The move comes as the conflict, which began on February 28, continues to affect oil flows through the Strait of Hormuzone of the world’s key energy transit routes.
According to the IEA, exports of crude and refined products through the strait are currently below 10% of pre-conflict levels, forcing several operators in the region to reduce or shut in production.
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The Strait plays a significant role in global oil trade. In 2025, about 20 million barrels per day of crude and oil products moved through the Strait of Hormuz, accounting for roughly 25% of global seaborne oil trade. Options to bypass the route remain limited.
Birol said coordinated action was necessary given the global nature of oil markets. “Oil markets are global so the response to major disruptions needs to be global too. Energy security is the founding mandate of the IEA, and I am pleased that IEA Members are showing strong solidarity in taking decisive action together,” he said.
IEA members collectively hold more than 1.2 billion barrels of emergency oil stocks, along with another 600 million barrels of industry stocks held under government obligations. The coordinated release marks the sixth such action by the agency since it was created in 1974, following earlier releases in 1991, 2005, 2011 and twice in 2022.
Separately, Japan indicated it may begin releasing oil from its national reserves soon. Sanae Takaichi said the move was aimed at easing pressure in global energy markets given the country’s high dependence on Middle Eastern oil.
“Without waiting for an official decision on the release of international stockpiles in cooperation with the IEA, Japan has decided to take the lead in releasing its stockpiles as early as the 16th of this month in order to ease supply and demand in the international energy market,” she told reporters, according to NHK.
