A. M. 
The International Energy Agency (IEA) announced thursday the start of the release of strategic petroleum reserves, an unprecedented measure aimed at stabilizing the global energy market in the face of the crisis caused by the conflict in the Middle East. The Paris-based agency reported that the total volume of crude oil and refined products to be released has increased from 400 million to 426 million barrels.
Of this total, 301 million barrels correspond to crude oil and 125 million to refined products. The IEA explained that, globally, the release will consist mainly of crude oil, while in Europe refined products will predominate, with the aim of responding to the specific needs of each market.
The agency warned that the current war in the Middle East has generated the largest supply disruption in the history of the global oil market, surpassing even the levels recorded during the 1973 energy crisis. This situation has removed a significant volume of crude oil from the market, increasing pressure on prices and energy availability globally.
Given this scenario, the IEA described the release of reserves as “the largest collective action in its history,” highlighting that this measure provides a “significant buffer” to mitigate the immediate impact of the crisis. However, it stressed that market stability will depend largely on the resumption of safe vessel transit through the Strait of Hormuz, one of the world’s most important energy routes, currently affected by tensions stemming from Iranian attacks in response to actions by Israel and the United States.
Regarding the distribution of the 426 million barrels, the IEA detailed that 280 million come from reserves directly controlled by governments, 119 million correspond to mandatory industry reserves, and 27 million are derived from increased production, mainly from Canada and Mexico.
The United States leads the contribution by a wide margin with 172.2 million barrels, all from government crude oil reserves. Japan follows with 79.8 million barrels, of which 54 million are crude oil and 25.8 million are refined products.
Other significant contributions include Canada with 23.6 million barrels through increased production; South Korea with 22.5 million; and Germany with 19.5 million.
France will contribute 14.6 million barrels; the United Kingdom will contribute 14 million (including crude oil and refined products); Spain will add 11.6 million barrels of refined products; and Italy will complete the list with 10 million barrels, also in refined products.
Releasing these reserves aims to alleviate pressure on international markets, contain rising oil prices, and guarantee energy supply amid a highly volatile geopolitical context. However, the IEA reiterated that a long-term solution would depend on stabilizing the conflict and normalizing major global crude oil shipping routes.
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