{
  "id": 11691408,
  "title": "325m barrels released from oil reserves since March - IEA",
  "url": "https://urgent.news/2026/10/03/325m-barrels-released-from-oil-reserves-since-march-iea",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-03T13:08:40.000Z",
  "source": {
    "name": "RTE News",
    "slug": "rte-news",
    "url": "https://www.rte.ie/news/business/2026/1003/1593891-oil-reserves/"
  },
  "original_language": "en",
  "account": "The International Energy Agency revealed that member countries had released 325 million barrels of oil and oil-derivative products from strategic reserves as of now, exceeding the initial 400 million barrels pledged in March. This disclosure came on the heels of a G7 countries' decision, in coordination with the IEA, to release 100 million barrels of diesel and crude oil to alleviate global energy supply tensions stemming from the US-Iran conflict. The G7 did not clarify whether the 100 million barrels comprised the remaining 75 million barrels from the March IEA commitment or added to it. The U.S. administration has been urging allies to release diesel reserves to mitigate the surge in fuel prices, impacting both the US and other regions. Restricted diesel supplies are a consequence of the Middle East war, with Iran obstructing ship traffic through the Strait of Hormuz as retaliation for US and Israeli strikes. Ukrainian attacks on Russian refineries have further disrupted the market. The IEA stated that 325 million barrels out of the collective 400 million barrels announced on March 11 have been released so far, constituting more than 80% of the originally pledged amount. The March pledge was made by the IEA's 32-member countries, including all G7 nations like Britain, Canada, Germany, Italy, Japan, and the United States. On March 12, the G7 agreed to release over the next four months 100 million barrels of oil and oil-derivative products, with a substantial diesel release within the first 20 days. The G7 also assured no ban on diesel exports among them, averting a threat previously raised by Washington, which US President Donald Trump later stated would not be executed.",
  "summary": "The International Energy Agency said today that member countries had so far released 325 million barrels of oil and oil-derivative products from strategic reserves, from 400 million barrels promised in March.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}