IEA Says 325 Million Barrels Released From Strategic Oil Reserves
Agency reports over 80% of March’s 400-million-barrel pledge is out as G7 adds a fresh diesel release.
2 min read
File photo: Crude oil pipes at the US Strategic Petroleum Reserve Bryan Mound site near Freeport, Texas. Photo: ENERGY.GOV, Public domain, via Wikimedia Commons
The International Energy Agency said Saturday that its member countries have so far released about 325 million barrels of oil and oil-derivative products from strategic reserves, more than 80 percent of the 400 million barrels pledged in March as wars in the Middle East and Ukraine squeeze fuel supplies.
What the IEA reported
In a statement on 3 October 2026, the IEA said “around 325 million barrels of the IEA collective action announced on 11 March have so far been released, representing over 80 percent of the 400 million barrels originally pledged in the action.” That leaves roughly 75 million barrels still to come from the March commitment, according to the agency’s update as reported by Euronews, RTE and AFP.
The March pledge was made by the IEA’s 32 member countries, a group that includes all G7 nations.
G7 diesel and crude release
The update came a day after G7 leaders, in a statement issued by French President Emmanuel Macron’s office, agreed in coordination with the IEA to release 100 million barrels of diesel and crude oil. The release is to begin immediately and run over four months, including what the joint statement called a “front-loaded substantial diesel release within the first 20 days by G7 members and partners.”
The G7 did not say whether the 100 million barrels include the outstanding 75 million barrels from the March IEA commitment, or come on top of that, Euronews and CBS News noted.
Why markets are tight
President Donald Trump’s administration has been pressuring allies to release diesel reserves to ease a spike in prices felt in the United States and elsewhere. Iran has been restricting shipping through the Strait of Hormuz in response to US and Israeli attacks, limiting the flow of oil and gas out of the Persian Gulf since the war began in late February, according to multiple reports.
Ukrainian strikes on Russian refineries have also hit the diesel market, as Kyiv responds to Russian attacks, the IEA-related coverage said.
Analysts and officials have framed the coordinated stock releases as a short-term buffer while diplomacy over Hormuz remains stalled and additional US naval forces head toward the region.
