The IEA wants to empty its oil reserves faster. A federal watchdog says the US isn’t ready for what comes next

The International Energy Agency (IEA) is accelerating the release of its emergency oil reserves, signaling that the buffer may be running too thin. The agency agreed to complete its pledged oil stock releases as quickly as possible when member governments met on October 7. The move prioritizes diesel, which has become increasingly scarce.

This action follows the G7's coordinated measures to stabilize energy supplies and protect consumers from price shocks. The U.S. Strategic Petroleum Reserve (SPR) is at its lowest point since 1982, prompting concerns over its ability to meet future demands and maintain operational integrity.