IEA members agree to release 120 million barrels of oil reserves, the largest in history.

KuCoinFlash

Release Time: 03/12/2026 01:06:14

Summary

On March 12, the International Energy Agency (IEA) announced that 32 member countries have agreed to release 120 million barrels of strategic oil reserves—the largest coordinated release in IEA history. The U.S. will contribute 172 million barrels, accounting for over 40% of the total. Other major contributors include Japan (80 million barrels), South Korea (22.5 million barrels), Germany (19.5 million barrels), France (up to 14.5 million barrels), and the UK (13.5 million barrels). Key details such as the release timeline, duration, and crude-to-refined oil ratio remain undisclosed, making it difficult to assess the market impact. Traders are advised to monitor altcoins to watch and on-chain data for potential market shifts.

BlockBeats report: On March 11, the International Energy Agency (IEA) announced that its 32 member countries have agreed to release 400 million barrels from their strategic petroleum reserves. In terms of volume, this is the largest coordinated release in IEA history. Following the Russia-Ukraine conflict in 2022, IEA members conducted two releases totaling approximately 183 million barrels; this latest release more than doubles that amount.

Reports indicate that several countries have now disclosed their respective contributions:

United States: 172 million barrels; Japan: approximately 80 million barrels; South Korea: 22.5 million barrels; Germany: approximately 19.5 million barrels; France: up to 14.5 million barrels; United Kingdom: 13.5 million barrels.

It is worth noting that the most critical information for the energy market has yet to be disclosed—including the pace of releases, duration, and the ratio of crude oil to refined products. These details are often more important than the total volume itself. (Wall Street Journal)

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