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IEA Executive Director meets German Chancellor to discuss energy security and industrial competitiveness
…as well as the IEA’s work supporting governments in responding to the disruptions. They also spoke about the importance of energy-intensive industries, which play a critical role in multiple sectors linked to economic and national security.During his visit, Dr Birol also had a bilateral meeting with Germany’s Minister for Economic Affairs and Energy Katherina Reiche to discuss the latest developments in oil and gas markets and the IEA’s response to the unfolding energy crisis. And he met with Environment, Nature Conservation and Nuclear Safety Minister Carsten Schneider for a discussion on the energy implications of…
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IEA Member countries to carry out largest ever oil stock release amid market disruptions from Middle East conflict
…an extraordinary meeting of IEA Member governments yesterday, convened by the IEA Executive Director to assess market conditions amid the conflict in the Middle East and consider the options to address supply disruptions. “The 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,” said IEA Executive Director Fatih Birol. “Oil markets are global so the response to major disruptions needs to be global too. Energy security is the founding mandate of the IEA, and I am pleased that IEA Members…
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IEA launches tracker to monitor policy responses to energy market impacts of Middle East conflict
…history of the global oil market. Global supply of LNG has also been reduced by around 20% as a result of the situation.The IEA’s new tracker presents two main categories of action: measures aimed at conserving energy and those designed to support consumers. The tracker will be updated regularly as new policies are announced and the situation evolves, providing timely insights into how countries are addressing the crisis. The IEA has also published a menu of demand-side measures that governments, businesses and households can take to shelter consumers from oil price pressures and support energy security.In line with…
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Statement by IEA Executive Director Fatih Birol on meeting of G7 Energy Ministers at IEA headquarters
…a substantial amount of oil production has been curtailed. This is creating significant and growing risks for the market. We discussed all the available options, including making IEA emergency oil stocks available to the market. IEA Member countries currently hold over 1.2 billion barrels of public emergency oil stocks, with a further 600 million barrels of industry stocks held under government obligation.Given conditions in oil markets, I have convened an extraordinary meeting of IEA Member governments, which will take place later today to assess the current security of supply and market conditions to inform a subsequent decision on…
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IEA confirms Member country contributions to collective action to release oil stocks in response to Middle East disruptions
…mb)
Country
Total contribution
Public stocks
Obligated industry stocks
Production increase
Crude oil
Oil products
Australia
4.8
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4.8
-
-
4.8
Austria
2.4
2.4
-
-
2.4
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Belgium
0.3
details not yet available
Canada
23.6
-
-
23.6
23.6
Czech Republic
2.2
2.2
-
-
2.2
-
Denmark
1.2
1.2
-
-
-
1.2
Estonia
0.3
0.3
-
-
-
0.3
Finland
1.8
details not yet available
France
14.6
details not yet available
19.5
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Tracking Energy Crisis Policy Responses
…of oil markets, alongside significant impacts on supplies of natural gas and other energy-related commodities. As concerns over supply security have grown, prices have risen across several parts of the energy system, increasing pressure on household budgets, public finances, and economic activity more broadly.Many actions are being taken to bolster oil supply, including the largest-ever release of emergency oil stocks coordinated by the IEA. At the same time, many governments are taking demand-side measures as they look to shield consumers from high energy prices. To support these actions, the IEA published a report, Sheltering from Oil…
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New IEA report highlights options to ease oil price pressures on consumers in response to Middle East supply disruptions
…supply and demand. On 11 March, IEA Member countries agreed to release 400 million barrels of oil from emergency reserves – the largest stock draw in the Agency’s history. However, supply-side measures alone cannot fully offset the scale of the disruption. Addressing demand is a critical and immediate tool to reduce pressure consumers by improving affordability and supporting energy security.A new IEA report identifies ten measures that can be implemented quickly by governments, businesses and households. These actions focus primarily on road transport, which accounts for around 45% of global oil demand, but also cover aviation, cooking and…
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Update on IEA collective action decision of 11 March 2026
Oil from the IEA emergency reserves will soon start flowing to global markets
following the
announcement on 11 March
that IEA Member countries will make 400 million barrels of oil available to
the market in response to the
disruptions resulting from the Middle East conflict.
Individual implementation plans have been submitted to the IEA by Member
countries. These plans indicate that stocks will be made available by IEA
Member countries in Asia Oceania immediately while stocks from IEA Member
countries in the Americas and Europe will be made available starting from the
end of March.
IEA Member countries have so… -
Oil Market Report – January 2026
Background information The IEA's monthly Oil Market Report (OMR) is the exclusive source for official government statistics from all OECD countries, as well as selected non-OECD countries, together with both historical datasets and supply-and-demand forecasts for the year ahead.Featuring tables, graphs and statistics, the OMR provides all the data necessary to perform ad-hoc analysis and track oil market developments and to identify trends in production, consumption, refining, inventories in OECD countries and prices for both crude and products. The OMR is a subscription service, released around the middle of each month. Read the highlights…
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Oil Market Report – May 2026
Background information The IEA's monthly Oil Market Report (OMR) is the exclusive source for official government statistics from all OECD countries, as well as selected non-OECD countries, together with both historical datasets and supply-and-demand forecasts for the year ahead.Featuring tables, graphs and statistics, the OMR provides all the data necessary to perform ad-hoc analysis and track oil market developments and to identify trends in production, consumption, refining, inventories in OECD countries and prices for both crude and products. The OMR is a subscription service, released around the middle of each month. Read the highlights…