IEA announces record 400-million-barrel release of oil to address Iran war supply disruption
IEA’s 32 members agreed to release 400 million barrels, more than double the 2022 Ukraine response, to offset an 8 mb/d supply loss from the Middle East conflict.
- On March 11, 2026, the International Energy Agency announced that it and its 32 member countries agreed to release 400 million barrels from emergency reserves, the largest coordinated release in the agency's history and more than double the 182.7 million barrels released in 2022.
- The closure of the Strait of Hormuz has halted most cargo traffic, and the IEA estimates the conflict will cut global oil supply by eight million barrels a day this month.
- The G7 nations pledged most of the volumes, with France contributing 14.5 million barrels, the UK offering 13.5 million barrels, and Germany's economy ministry asked to release roughly 19.7 million barrels, Macron said.
- Markets showed an immediate reaction, with Brent crude settling around $90.87 on Wednesday and the national average for gasoline rising 20% to $3.58 a gallon.
- Birol warned that 'This is a major action aiming to alleviate the immediate impacts of the disruption in markets,' adding that the release accounts for about a third of IEA emergency stocks and replaces 20–26 days of Hormuz shipments.
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516 Articles
Iran war brings history's largest oil supply disruption, says IEA
The International Energy Agency said Thursday that the US-Israeli war on Iran and its reverberating impacts across the region have sparked “the largest supply disruption in the history of the global oil market,” with flows of crude and other fossil fuel products through the Strait of Hormuz plummeting and Gulf nations slashing production as they run out […] The post Iran war brings history’s largest oil supply disruption, says IEA appeared first…
The Herald Scotland
Iran conflict creating ‘largest oil supply disruption in history’, says IEA
It came as oil prices lifted higher again on Thursday as Iran continued to strike key energy and shipping infrastructure in the Middle East.
Oil surges again as industry faces 'largest disruption in history of the market'
The global energy body has warned the current oil crisis triggered by the war in the Middle East marks the “largest disruption” in history of the commodity’s market. The International Energy Agency (IEA) made a record intervention in the market on Wednesday, with the release of 400m barrels from the strategic reserves. But the move has made little difference to the surging price of Brent crude – the international bench mark for oil – which once …
World faces largest-ever oil supply disruption due to Middle East war
LONDON, United Kingdom – The war in the Middle East is creating the biggest oil supply disruption in history, the International Energy Agency (IEA) said on Thursday, March 12, a day after it agreed to release a record volume from strategic stockpiles to offset shortages and a spike in prices. Global supply is expected to drop by 8 million barrels per day (bpd) in March, the IEA said in its latest monthly oil market report — a volume equal to alm…
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