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Article: IEA proposes release of 400m barrels of oil from strategic reserves

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7 / 10

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Summary: The International Energy Agency (IEA) has agreed to a collective release of 400 million barrels of oil from its members' strategic reserves. This action, described as "unprecedented in size," aims to address soaring global energy prices and market disruptions. The release is notably larger than a previous one coordinated in response to Russia's invasion of Ukraine.

Main Topics Covered: 1. The IEA's coordinated release of strategic oil reserves. 2. The goal of stabilizing global oil prices amid market disruption. 3. The scale of the release compared to previous actions.

Original URL

https://www.aljazeera.com/news/2026/3/11/iea-proposes-release-of-400m-barrels-of-oil-from-strategic-reserves?traffic_source=rss

Source Feed

Al Jazeera – Breaking News, World News and Video from Al Jazeera

Published Date

2026-03-11 14:29

Fetched Date

2026-03-11 12:00

Processed Date

2026-03-11 12:02

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Present

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Not Clustered

Raw Extracted Content

IEA proposes release of 400m barrels of oil from strategic reserves
The International Energy Agency has agreed to release 400 million barrels of oil from its members’ strategic reserves, in an attempt to counter soaring global energy prices amid the United States-Israeli war on Iran.
The proposed release is larger than the 182 million barrels of oil that IEA member countries released in 2022 after Russia launched its full-scale invasion of Ukraine.
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“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 IEA executive director Fatih Birol in a statement on Wednesday.
“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.”
More to come…