IEA members back faster emergency oil stock releases, with diesel first

Member governments of the International Energy Agency (IEA) supported accelerating the emergency oil stock releases agreed in March 2026, at a meeting on Wednesday 7 October, according to a statement from the IEA’s Executive Director. They aim to complete the releases as soon as possible.

What was agreed

The releases were launched under the IEA’s March 2026 Collective Action, its response to the energy impacts of the Strait of Hormuz crisis. Members also backed giving priority, where possible, to releasing diesel stocks, citing current tightness in diesel markets.

According to the IEA:

• about 325 million barrels of oil have been released so far under the Collective Action, with some countries releasing more than they first pledged;
• releasing all the stocks that were pledged but not yet delivered would bring about 100 million more barrels to the market;
• member governments still hold publicly owned emergency oil stocks equivalent to around 1.1 billion barrels, including over 200 million barrels of diesel.

The IEA said it stands ready to release more of these stocks if and when required. Participants also welcomed a recent statement by G7 leaders on global energy security and market stability, including its emphasis on the free flow of energy trade.

For traders

The statement sets out the volumes still to reach the market and the size of the remaining public reserves. For context, FRED’s latest Brent price is $125.44 a barrel for 6 October. Our guide to what moves oil prices explains how stock releases fit alongside supply, demand and inventories.

What happens next

The IEA Secretariat will keep monitoring how the Collective Action is carried out. Member governments agreed to review the situation again at the next scheduled meeting of the IEA Governing Board, which the agency said will take place next week.