IEA not considering additional strategic oil reserve releases

Logo of International Energy Agency (IEA)

International Energy Agency (IEA) Executive Director Fatih Birol stated that there are no ongoing discussions regarding a second coordinated release from strategic petroleum reserves, noting that the agency continues to monitor market conditions closely.

Speaking to Reuters on Monday, Birol highlighted that the initial reserve release announced in March totaled 400 million barrels—representing nearly 20% of total member countries' inventories—leaving remaining strategic stocks at roughly 80%.

Regarding the European gas market, Birol expressed concern over supply outlooks for the upcoming winter, citing depressed storage levels alongside energy supply disruptions in the Middle East.