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SearchMember countries support completing the release of reserves committed in March as soon as possible. Around 100 million barrels would remain pending, but support for accelerating the process does not mean they are already on the market.
Member countries of the International Energy Agency (IEA) backed accelerating the release of the oil reserves committed in March 2026, with the aim of completing the process as soon as possible. At the October 7 meeting, they also supported prioritizing diesel where possible, amid tensions and shortages affecting markets for that fuel.
The decision is support for accelerating a measure already agreed upon, not confirmation that all the outstanding volume has been put into circulation. According to the IEA, approximately 325 million barrels had been released to date. Completing the mobilization of the reserves still pending would add around 100 million barrels to the market.
Member governments hold public emergency reserves equivalent to around 1.1 billion barrels, including more than 200 million barrels of diesel, according to the Agency. The IEA said it is prepared to release more reserves if circumstances require it; that possibility does not, in itself, mean that a new release has already been decided.
The organization will continue to monitor the implementation of the collective action and update its analyses of energy markets. Members agreed to reassess the situation at the next meeting of the Governing Board, scheduled for the week of October 12. The statement also welcomed the G7’s emphasis on energy security and on maintaining the free flow of trade in energy products.
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