Paris (France) (AFP) - The International Energy Agency announced on Saturday that member states have so far released 325 million barrels of oil and its derivatives from strategic reserves, out of 400 million pledged to pump in March, shortly after the outbreak of war in the Middle East.

Published on: 03/10/2026 - 15:30

This comes the day after the G7 countries agreed, in agreement with the International Agency, to release 100 million barrels of diesel fuel and crude oil to dispel concerns about global energy supplies resulting from the repercussions of the war.

The G7 did not clarify whether the 100 million barrels included the remaining 75 million barrels from the previous pledge, or whether it would be an addition to it.

The administration of US President Donald Trump is pressuring its European allies to release diesel reserves to help mitigate the sharp rise in prices that the United States and other countries are witnessing.

The scarcity of diesel supplies is one of the consequences of the war in the Middle East, with Iran restricting the movement of ships through the Strait of Hormuz in response to US and Israeli attacks.

Also, Ukrainian strikes on Russian oil refineries had an impact on the market.

The International Energy Agency said in a statement on Saturday that “about 325 million barrels from the agency’s collective action announced on March 11 have been released so far, representing more than 80 percent of the 400 million barrels initially pledged under this action.”

The March pledge was issued by the 32 member states of the International Energy Agency, including the G7 countries: Britain, Canada, France, Germany, Italy, Japan and the United States.

The G7 countries agreed on Friday to release 100 million barrels of oil and petroleum products over the next four months, “including the early release of a large amount of diesel during the first twenty days.”

She said that there would be no ban on diesel exports between them, which means Trump backed down from a threat he had made.

© 2026 AFP

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