IEA Governing Board: About 330 Million Barrels Released So Far, With the Remaining 100 Million to Be Accelerated

The International Energy Agency's Governing Board said after its meeting on Thursday, 15 October 2026 (23 Mehr 1405) that about 330 million barrels of oil stocks have so far been released under the March 2026 Collective Action responding to the Strait of Hormuz crisis, and that members agreed to take "all necessary steps" to complete the remaining releases of around 100 million barrels in a timely manner. The statement says some members have released more than they pledged in March and others intend to, so the total released will exceed the original 400 million barrels.

The Board also agreed to accelerate the remaining releases, with specific plans already in place, including more than 20 million barrels of diesel as soon as possible. Members holding oil production and refining capacity were encouraged to boost supply of crude and refined products, particularly diesel, and the agency underlined the importance of the free flow of energy trade. The IEA Secretariat's recent assessments point to continued tightness in oil markets, notably for diesel, and the Board said it is willing to take further action, building on the G7 statement of 2 October.

The statement describes releases to date and the plan to complete them; it gives no price or price forecast.