The US has committed to releasing 30mn bl from its SPR
IEA coordinates crude stock release
The intergovernmental body is trying to cool the crude market
IEA members have agreed the “initial release” of 60mn bl of their crude stockpiles, following an emergency meeting “to address significant market and supply disruptions” related to the war in Ukraine. The US has committed to contribute 30mn bl from its Strategic Petroleum Reserves (SPR), and its Department of Energy plans to issues a notice of sale on 2 March. The 60mn bl release is equivalent to around 4pc of member states’ emergency stocks, which stand at 1.5bn bl, the IEA says. This release is only the fourth such coordinated withdrawal in the IEA’s history and the first for more than ten years. The organisation will continue monitoring the situation and says it is “possible” it will reco
Also in this section
25 July 2025
Mozambique’s insurgency continues, but the security situation near the LNG site has significantly improved, with TotalEnergies aiming to lift its force majeure within months
25 July 2025
There is a bifurcation in the global oil market as China’s stockpiling contrasts with reduced inventories elsewhere
24 July 2025
The reaction to proposed sanctions on Russian oil buyers has been muted, suggesting trader fatigue with Trump’s frequent bold and erratic threats
24 July 2025
Trump energy policies and changing consumer trends to upend oil supply and demand
