IEA members support faster release of reserve oil stocks
IEA members expressed support for accelerating the release of roughly 100 million barrels of reserve oil stocks previously agreed to in March. About 325 million barrels have already been released under that agreement, and members agreed to prioritise the release of diesel stocks. Member countries still hold roughly 1.1 billion barrels of emergency oil stocks, including more than 200 million barrels of diesel.
Why it matters: The decision extends the use of emergency reserves as an instrument of energy security policy, with the IEA stating it stands ready to release more stocks if required.