International Energy Agency

The International Energy Agency requested its members to release a record 400 million barrels of oil from emergency reserves to calm surging prices due to the Iran war. This is the largest volume of emergency oil reserves released in its history, aiming to alleviate immediate market disruptions.

The International Energy Agency has warned about a potential jet fuel crunch in Europe, stating that the region may have only six weeks of jet fuel left if supply problems persist. They advise 32 countries on energy supply and security and have highlighted Europe's heavy reliance on Middle East fuel.

The International Energy Agency is monitoring the oil market situation and its chief, Fatih Birol, is providing reassurance that there is no oil shortage despite logistical disruptions. They are considering all options but have no immediate plans for collective action regarding emergency stocks.

The International Energy Agency reported on the historic oil supply disruption and agreed to release oil from strategic stockpiles to mitigate the impact.

The International Energy Agency agreed to release 400 million barrels of oil from its member countries' emergency reserves to counter the war's impact on energy markets, aiming to stabilize global oil prices.