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IEA Oil Release

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IEA Oil Release

B
Benzinga

106 Views • Mar 12, 2026

Description

The IEA agreed to release 400 million barrels of emergency oil reserves — its largest ever — as the Iran war shuts down Strait of Hormuz tanker traffic carrying ~20% of global oil and gas. The 32-member body's release will be coordinated on national timelines across Europe, North America, and northeast Asia.