The International Energy Agency is preparing for its largest-ever coordinated oil reserve release in response to sharp crude price increases following the outbreak of war involving the United States, Israel, and Iran, according to sources cited by the Wall Street Journal. This potential move is aimed at stabilizing energy markets impacted by geopolitical tensions.
Officials familiar with the discussions told the Wall Street Journal that the IEA’s planned action would surpass the 182 million barrels released during two separate interventions in 2022 following Russia’s invasion of Ukraine. The agency does not hold reserves itself but oversees collective emergency stocks maintained by member nations.
As of March 2026, countries participating in the IEA system manage over 1.2 billion barrels of publicly held emergency oil, with an additional 600 million barrels stored by industry participants. These inventories are intended to cushion global markets against major supply disruptions, and the latest proposal reflects the IEA’s most extensive response mechanism to date.
