IEA to speed up oil stock release, including over 20 million barrels of diesel
USO•The IEA agreed to accelerate the release of remaining volumes from its March emergency stock pledge, including more than 20 million barrels of diesel as soon as possible. Members have released about 330 million barrels so far from the pledge of more than 400 million.
1. Diesel release accelerated
The International Energy Agency agreed to accelerate releases of the remaining oil volumes pledged in March, including more than 20 million barrels of diesel as soon as possible. The 32-nation agency said its board reaffirmed its commitment to the March 2026 collective action in response to the Strait of Hormuz crisis.
2. Members’ releases so far
Countries pledged more than 400 million barrels of crude and oil products in March, and the IEA said members have released about 330 million barrels so far. Spain said it would release 4.4 million barrels from strategic reserves in October; it has released 3.7 million of the 11.5 million barrels it pledged in March.
3. Analyst questions volumes
Energy analyst Abhishek Kumar said the announcement was a step in the right direction but fell short on details, adding that the diesel appeared to accelerate existing commitments rather than provide genuinely new volumes. The U.S. Energy Department said further IEA releases, with a focus on diesel, were under review and in progress.
