IEA agrees to release 400 million barrels of oil to address Iran war supply disruption

[BumRushDaShow]

Source: CNBC

Published Wed, Mar 11 2026 10:05 AM EDT Updated 7 Min Ago



The International Energy Agency on Wednesday agreed to release 400 million barrels of oil to address the supply disruption triggered by the Iran war, the largest such action in the organization’s history. The IEA did not set out a timeline for when the stocks would hit the market. It said that the reserves would be released over a timeframe that is appropriate to the circumstances of each of its 32 member countries.

“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,” IEA Executive Director Fatih Birol said in a statement.

“Oil markets are global so the response to major disruptions needs to be global too,” Birol said. “Energy security is the founding mandate of the IEA, and I am pleased that IEA Members are showing strong solidarity in taking decisive action together.”

Energy analysts warned ahead of the release that even the IEA’s maximum drawdown capability would likely not be able to offset the nearly 20 million barrels per day that typically transits through the Strait of Hormuz.

Read more: https://www.cnbc.com/2026/03/11/iea-oil-reserves-crude-prices-iran-g7-energy.html

[moonshinegnomie]

1. oil is $5 a barrell higher despite this

and the dow is down 500

[onenote]

2. On a global scale, 400 million barrels is around a four or five day supply.

Even just looking at the US, which uses around 20 million barrels each day, that's maybe three weeks supply.

[maxsolomon]

3. All our problems are solved.

Praise Trump.

[Buzz cook]

4. Trump vowed to refill the strategic oil reserve

When he was elected.
He hasn't.