Countries agree to historic release of stockpiled oil to ease the global disruption

International Energy Agency Executive Director Fatih Birol speaks during a media conference regarding recent developments in global energy markets in Brussels, Friday, March 6, 2026.

Members of the International Energy Agency have announced a coordinated release of 400 million barrels of stockpiled oil in an attempt to counter the disruption in oil trade triggered by the Iran war.

(Image credit: Omar Havana)