Sigma Live

IEA Announces Record Oil Reserve Release Amid Middle East Crisis

Published March 15, 2026, 20:06
IEA Announces Record Oil Reserve Release Amid Middle East Crisis

The International Energy Agency (IEA) has decided to release 411.9 million barrels of oil from its strategic reserves in an effort to stabilize markets and mitigate the economic impact of the war in the Middle East. This release is a record for the organization and includes 271.7 million barrels from government reserves, 116.6 million barrels from industry mandatory reserves, and 23.6 million barrels from other sources. 72% of the amount is crude oil, while 28% is petroleum products. The distribution of reserves will take place in two phases: reserves from Asia and Oceania are already available, while those from Europe and the Americas will be available by the end of March. The decision was made by the 32 member countries of the IEA, including the United States, and represents a coordinated effort to address the energy crisis. This move aims to increase oil supply in the global market and prevent further price increases, which have been negatively affected by geopolitical tensions. The IEA is closely monitoring the situation and is ready to take further action if necessary. The release of reserves is expected to contribute to price stabilization and ensure an adequate supply of oil, protecting the economies of member countries from further burdens.