International Energy Agency to release 400 million barrels of oil in move to lower energy prices

March 11, 2026

TL;DR

IEA announces the release of 400 million barrels of oil from emergency reserves.
This is the largest release in the organization's history.
The release is a response to the effective closure of the Strait of Hormuz, which normally handles one-fifth of global oil supply.
The goal is to maintain energy security and offset lost supply, aiming to stabilize oil markets and lower prices.
Global oil prices had risen due to concerns over the Strait of Hormuz blockage.
The effectiveness of sustained lower prices depends on the conflict's progression and potential releases by China.
China holds significant oil stocks, estimated between 1.1-1.4 billion barrels.

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