The International Energy Agency (IEA) has decided to release 400 million barrels of oil from global strategic reserves starting March 11, in a major move aimed at stabilizing energy markets amid escalating tensions in West Asia. The coordinated action involves several member countries tapping emergency stockpiles to offset supply disruptions linked to the ongoing conflict involving Iran, Israel, and the United States.


IEA Decided to Release 400 Million Barrels of Oil Reserves on March 11

In its latest monthly report, the International Energy Agency warned global oil supply could go down by 8 million barrels a day in March as the Iran war disrupts flows through the Strait of Hormuz. Brent crude is above $100 despite a record 400-million-barrel emergency release by IAE members.

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