International Energy Agency: Emergency Oil Reserves to Begin Flowing to Markets Soon

Welat TV – Erbil

The International Energy Agency (IEA) announced on Sunday that oil released from member states’ emergency reserves will begin flowing into global markets soon, as part of efforts to stabilize volatility in the energy market.

The agency stated that stockpiles located in Asia and Oceania will be available immediately, while supplies coming from Europe and the Americas are expected to reach the market by the end of March.

According to the IEA, governments have committed to releasing approximately 271.7 million barrels of oil from strategic reserves, with 72% of the planned release consisting of crude oil and 28% petroleum products.

Member states in the Americas will contribute around 172.2 million barrels of the total volume. The move comes amid significant increases in global oil prices, which have risen by more than 17% since the agency announced what it described as the largest release of oil reserves in its nearly half-century history.

Meanwhile, Brent Crude—the global benchmark for oil prices—closed above $100 per barrel for the second consecutive day on Friday.

Media reports indicate that the release process may take some time before its full impact becomes visible in the market, while the announced volumes remain smaller than the potential supply gap that could emerge if major disruptions affect global energy supply routes.