IEA announces largest-ever oil stock release as Middle East war disrupts supply

The member countries of the International Energy Agency (IEA) have agreed to release 400 million barrels of oil from emergency reserves to stabilise global markets disrupted by the ongoing conflict in West Asia.

The decision was taken during an extraordinary meeting of IEA member governments to assess the impact of the Middle East war on global oil supplies.

“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,” Executive Director Fatih Birol said in a statement.

The agency said the emergency stocks will be released to the market over a timeframe determined by individual member countries depending on national circumstances.

Some countries may also introduce additional emergency measures to support supply.

IEA members collectively hold over 1.2 billion barrels of emergency oil stocks, along with another 600 million barrels maintained by industry under government obligation, providing a substantial buffer against supply disruptions.

The largest coordinated stock release in the agency’s history comes after the conflict in the Middle East, which began on February 28, severely disrupted oil shipments through the strategic Strait of Hormuz.

According to the IEA, exports of crude oil and refined petroleum products through the strait have fallen to less than 10% of pre-conflict levels.

In 2025, about 20 million barrels per day of crude oil and petroleum products passed through the Strait of Hormuz, accounting for roughly a quarter of the world’s seaborne oil trade.

The emergency stock draw will be the sixth coordinated action undertaken by the Paris-based energy watchdog since its creation in 1974.

India, an associate member of the IEA, welcomed the decision and said it is closely monitoring developments in global energy markets.

“The Government of India is closely monitoring the evolving situation in global energy markets, particularly in the Middle East,” the government said in a statement.

“India stands ready to take appropriate measures, as necessary, to support global market stability in alignment with the efforts of the International Energy Agency,” it added.