IEA speeds up oil reserve release due to Hormuz crisis
The International Energy Agency announced an acceleration in the release of the remaining oil reserves to address the ongoing shortage of supply, particularly in the diesel market, as part of the action plan scheduled for March 2026. So far, approximately 330 million barrels have been released, with approval to complete the release of an additional 100 million barrels, potentially increasing the total released stock to more than 400 million barrels. The council called on member countries to increase oil and refined product supplies, especially diesel, to ensure market stability, while continuing to monitor developments to take further measures if pressures on global markets persist.
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