IEA announces release of 400 million barrels from emergency oil stockpile, largest-ever intervention

BlockBeats News, March 11th. The International Energy Agency (IEA) today announced that it will release 400 million barrels of oil from emergency reserves to the market. The IEA stated that the Middle East situation has brought "significant and continuously rising risks" to the oil market. These reserves will come from mandatory reserves held by IEA member countries. According to regulations, each member country must hold stocks equivalent to at least 90 days of net imports from the previous year. Reserves can be in the form of crude oil, refined products, or a combination of both. The latest IEA data shows that strategic reserves in North America are mainly crude oil-based, while European and Asian member countries hold both crude oil and refined products. By the end of 2025, the total oil volume in IEA member countries' public stocks is 1.25 billion barrels, accounting for approximately 30% of the total OECD oil stocks. This marks the sixth release of an emergency reserve release directive by the IEA since its establishment in 1974, and it is the largest release in history. (Golden Finance)