Business · Energy & Commodities · 15 hrs ago
IEA urges members to speed up oil reserve releases, prioritising diesel
The International Energy Agency has asked its member governments to speed up oil releases they pledged under a collective agreement in March.
It says the current global diesel crisis needs urgent attention and that members should prioritise diesel in the remaining releases.
The agency says some members have already released more oil than they initially promised.
In early October, members agreed to speed up the release of 100 million barrels from reserves; the earlier collective commitment was 400 million barrels.
The agency also encouraged members to consider whether additional diesel releases are needed, and how large and when they should be.
It cited renewed attacks on civilian and energy infrastructure in Saudi Arabia, including attacks on Riyadh’s international airport.
The agency’s board will meet on October 15 to assess the efforts and discuss further action.
The International Energy Agency urged members to speed up releases of oil reserves they had pledged under a previous agreement, prioritising diesel.
Executive Director Fatih Birol wrote to member governments about conditions in global diesel markets.
The agency said some members had already released more than they initially pledged in March.
Members were encouraged to assess whether additional diesel releases were needed and, if so, their scale and timing.
The agency’s governing board is due to meet on 15 October to assess the efforts.
- Who
- The International Energy Agency and its member governments.
- What
- The agency urged members to speed up pledged oil-reserve releases and prioritise diesel.
- When
- The appeal was reported on 11 October 2026, before a board meeting on 15 October.
- Where
- Global diesel markets; the agency’s statement also referred to attacks on infrastructure in Saudi Arabia.
- Why
- The agency cited the global diesel-market crisis and said current market conditions required urgent attention.
This story does not have two clearly opposing sides.
We look forward to hearing whether members that have not yet delivered the quantities pledged under the March collective action can accelerate the remaining releases to fulfil this prior commitment, giving priority to diesel.
As we did in March, I believe we can once again demonstrate the IEA’s ability to work together to support energy security and economic stability.
IEA members agreed to withdraw 400 million barrels of oil.
Members agreed to accelerate the release of 100 million barrels from reserves.
The agency reported Birol’s appeal to member governments to speed up remaining releases, prioritising diesel.
The IEA governing board is due to meet and assess the efforts.
- March pledge
- 400 million barrels of oil
- Accelerated release
- 100 million barrels
- Priority fuel
- Diesel
- Executive director
- Fatih Birol
- Board meeting
- 15 October
Sources
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