Energy Agency: Countries reduced 290M barrels since March 11, 2026

The International Energy Agency reported that member countries have withdrawn approximately 290 million barrels from emergency oil reserves since March 11, 2026, as part of measures to ease disruptions in energy markets. Over one billion barrels remain in government reserves should the need arise. The agency also noted a commitment to provide 400 million barrels during this period, along with ongoing additional releases, amid escalating conflicts in the Middle East and their impact on supply security. Data shows that Gulf exports have declined but still remain higher than early March levels. Meanwhile, other countries such as the United States and Brazil have increased their exports to compensate for the shortfall, and China's imports have significantly decreased. Additionally, increased gas shipments from America and Canada have compensated for about 70% of the lost supplies through the Strait of Hormuz, with warnings about the potential impact of ongoing regional escalation on global energy security.

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