{"id":43888,"date":"2026-03-12T08:10:55","date_gmt":"2026-03-12T02:25:55","guid":{"rendered":"https:\/\/nepalsamaj.com\/en\/?p=43888"},"modified":"2026-03-12T08:10:55","modified_gmt":"2026-03-12T02:25:55","slug":"iea-agrees-to-release-400-million-barrels-of-oil-from-strategic-reserves","status":"publish","type":"post","link":"https:\/\/nepalsamaj.com\/en\/iea-agrees-to-release-400-million-barrels-of-oil-from-strategic-reserves\/","title":{"rendered":"IEA agrees to release 400 million barrels of oil from strategic reserves"},"content":{"rendered":"<div style=\"margin-top: 0px; margin-bottom: 0px;\" class=\"sharethis-inline-share-buttons\" ><\/div><p><strong>Reuters :<\/strong> The International Energy Agency (IEA) has agreed to release 400 million barrels of oil from its members\u2019 strategic reserves, in an attempt to counter soaring global energy prices amid the United States-Israeli war on Iran.<\/p>\n<p>The proposed release is larger than the 182 million barrels of \u2060oil that IEA member \u2060countries released in 2022 \u2060after Russia launched its \u2060full-scale invasion \u2060of Ukraine.<\/p>\n<p>\u201cThe oil market challenges we are facing are unprecedented in scale, therefore I am very glad that IEA member countries have responded with an emergency collective action of unprecedented size,\u201d said IEA executive director Fatih Birol in a statement on Wednesday.<\/p>\n<p>\u201cWithout sufficient routes to market and with no more available storage, Middle East oil producers have started to reduce production,\u201d Birol said. \u201cAnd we have seen further attacks and damage to energy and energy-related infrastructure. Refinery operations have also been disrupted, with major implications for jet fuel and diesel supplies in particular.\u201d<\/p>\n<p>IEA member countries hold more than 1.2 billion barrels of emergency oil stocks, with a further 600 million barrels of industry stocks held under government obligation.<\/p>\n<p>Since the US and Israel launched their war on February 28, Iran has effectively closed the Strait of Hormuz, a crucial shipping route for oil produced by Gulf states, by threatening to attack shipping. About a fifth of global oil and gas supplies transit the waterway.<\/p>\n<p>In response to the US and Israeli attacks, Iran has also targeted oil fields and refineries in Gulf Arab states, aiming at generating enough global economic pain to pressure the US and Israel to halt the war.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reuters : The International Energy Agency (IEA) has agreed to release 400 million barrels of oil from its members\u2019 strategic reserves, in an attempt to counter soaring global energy prices amid the United States-Israeli war on Iran. The proposed release is larger than the 182 million barrels of \u2060oil that IEA member \u2060countries released in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":43889,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[],"class_list":["post-43888","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world"],"_links":{"self":[{"href":"https:\/\/nepalsamaj.com\/en\/wp-json\/wp\/v2\/posts\/43888"}],"collection":[{"href":"https:\/\/nepalsamaj.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nepalsamaj.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nepalsamaj.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nepalsamaj.com\/en\/wp-json\/wp\/v2\/comments?post=43888"}],"version-history":[{"count":2,"href":"https:\/\/nepalsamaj.com\/en\/wp-json\/wp\/v2\/posts\/43888\/revisions"}],"predecessor-version":[{"id":43891,"href":"https:\/\/nepalsamaj.com\/en\/wp-json\/wp\/v2\/posts\/43888\/revisions\/43891"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nepalsamaj.com\/en\/wp-json\/wp\/v2\/media\/43889"}],"wp:attachment":[{"href":"https:\/\/nepalsamaj.com\/en\/wp-json\/wp\/v2\/media?parent=43888"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nepalsamaj.com\/en\/wp-json\/wp\/v2\/categories?post=43888"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nepalsamaj.com\/en\/wp-json\/wp\/v2\/tags?post=43888"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}