IEA prepares historic oil reserve release as Iran war disrupts markets

The International Energy Agency said its member governments have agreed to release up to 400 million barrels of oil from strategic reserves as the Iran war disrupts global energy markets.

The coordinated action, if fully implemented, would be the largest emergency oil release in the agency’s history, surpassing previous interventions during supply crises. IEA Executive Director Fatih Birol said the war was already affecting energy flows and creating wider risks for the global economy.

This post is for subscribers only

Become a member to get access to all content

Subscribe now