The International Energy Agency (IEA) has approved the release of oil reserves to address market disruptions caused by the conflict in the Middle East. This was announced by the organization's press service.
The decision was unanimously supported by all 32 members of the IEA. It involves the release of 400 million barrels of oil from emergency reserves - the largest volume in history.
In total, member countries have more than 1.2 billion barrels of emergency stocks, with another 600 million barrels of industrial stocks held under government obligations.
"Emergency stocks will be released to the market in timelines corresponding to the national circumstances of each member country, and will be supplemented by additional emergency measures from some states," the statement said.
The IEA has approved the release of emergency oil stocks five times: before the first Gulf War, after hurricanes Rita and Katrina in 2005, after the start of the civil war in Libya in 2011, and twice in 2022 in response to disruptions caused by Russia's war against Ukraine.
Due to the escalation of the conflict in the Middle East and the effective cessation of tanker movement through the Strait of Hormuz, global energy supply has been disrupted. The IEA noted that in 2025, an average of 20 million barrels of oil and petroleum products passed through the Strait of Hormuz daily, accounting for about 25% of global maritime oil trade. Options for transporting oil bypassing the Strait of Hormuz are limited.
