IEA to release a third of its emergency stockpile of oil in reaction to the Iran war
Spot crude oil price in $ a barrel
0
30
60
90
120
$150
1970
1975
Nov 1974
IEA created in response
to 1973-74 oil crisis
1980
1985
1990
Jan 1991
IEA releases 2.5m barrels
a day during Operation
Desert Storm
1995
2000
Sep 2005
60m barrels released
over four months after
Hurricane Katrina
2005
2010
Jun 2011
60m barrels
released during
Nato intervention
in Libya
2015
2020
Mar 2022
182m emergency
barrels poured into
market after Russia
invades Ukraine
2025
Mar 2026
400m emergency
barrels to be released
12 Mar 2026 $94.83
(hourly futures price)
0
30
60
90
120
$150
1970
1975
Nov 1974
IEA created in response
to 1973-74 oil crisis
1980
1985
1990
Jan 1991
IEA releases 2.5m barrels
a day during Operation
Desert Storm
1995
2000
Sep 2005
60m barrels released
over four months after
Hurricane Katrina
2005
2010
Jun 2011
60m barrels
released during
Nato intervention
in Libya
2015
2020
Mar 2022
182m emergency
barrels poured into
market after Russia
invades Ukraine
2025
Mar 2026
400m emergency
barrels to be released
12 Mar 2026 $94.83
(hourly futures price)
0
30
60
90
120
$150
1970
1975
Nov 1974
IEA created in response
to 1973-74 oil crisis
1980
1985
1990
Jan 1991
IEA releases 2.5m barrels
a day during Operation
Desert Storm
1995
2000
Sep 2005
60m barrels released
over four months after
Hurricane Katrina
2005
2010
Jun 2011
60m barrels
released during
Nato intervention
in Libya
2015
2020
Mar 2022
182m emergency
barrels poured into
market after Russia
invades Ukraine
2025
Mar 2026
400m emergency
barrels to be released
12 Mar 2026 $94.83
(hourly futures price)
$150
Sep 2005
60m barrels released
over four months after
Hurricane Katrina
Jun 2011
60m barrels
released
during Nato
intervention
in Libya
Mar 2022
182m emergency
barrels poured into
market after Russia
invades Ukraine
120
Nov 1974
IEA created in
response to 1973-74
oil crisis
Jan 1991
IEA releases 2.5m
barrels a day during
Operation Desert
Storm
$94.83
12 Mar 2026
(hourly
futures
price)
90
60
Mar 2026
400m
emergency
barrels to be
released
30
0
1970
1975
1980
1985
1990
1995
2000
2005
2010
2015
2020
2025
$150
Jun 2011
60m barrels
released during
Nato intervention
in Libya
Mar 2022
182m emergency barrels
poured into market after
Russia invades Ukraine
Mar 2026
400m emergency
barrels to be
released
120
Nov 1974
IEA created in response
to 1973-74 oil crisis
Jan 1991
IEA releases 2.5m barrels
a day during Operation
Desert Storm
$94.83
12 Mar 2026
(hourly futures
price)
90
Sep 2005
60m barrels released
over four months after
Hurricane Katrina
60
30
0
1970
1975
1980
1985
1990
1995
2000
2005
2010
2015
2020
2025
0
30
60
90
120
$150
1970
1975
Nov 1974
IEA created in response
to 1973-74 oil crisis
1980
1985
1990
Jan 1991
IEA releases 2.5m barrels
a day during Operation
Desert Storm
1995
2000
Sep 2005
60m barrels released
over four months after
Hurricane Katrina
2005
2010
Jun 2011
60m barrels
released during
Nato intervention
in Libya
2015
2020
Mar 2022
182m emergency
barrels poured into
market after Russia
invades Ukraine
2025
Mar 2026
400m emergency
barrels to be released
12 Mar 2026 $94.83
(hourly futures price)
0
30
60
90
120
$150
1970
1975
Nov 1974
IEA created in response
to 1973-74 oil crisis
1980
1985
1990
Jan 1991
IEA releases 2.5m barrels
a day during Operation
Desert Storm
1995
2000
Sep 2005
60m barrels released
over four months after
Hurricane Katrina
2005
2010
Jun 2011
60m barrels
released during
Nato intervention
in Libya
2015
2020
Mar 2022
182m emergency
barrels poured into
market after Russia
invades Ukraine
2025
Mar 2026
400m emergency
barrels to be released
12 Mar 2026 $94.83
(hourly futures price)
0
30
60
90
120
$150
1970
1975
Nov 1974
IEA created in response
to 1973-74 oil crisis
1980
1985
1990
Jan 1991
IEA releases 2.5m barrels
a day during Operation
Desert Storm
1995
2000
Sep 2005
60m barrels released
over four months after
Hurricane Katrina
2005
2010
Jun 2011
60m barrels
released during
Nato intervention
in Libya
2015
2020
Mar 2022
182m emergency
barrels poured into
market after Russia
invades Ukraine
2025
Mar 2026
400m emergency
barrels to be released
12 Mar 2026 $94.83
(hourly futures price)
$150
Sep 2005
60m barrels released
over four months after
Hurricane Katrina
Jun 2011
60m barrels
released
during Nato
intervention
in Libya
Mar 2022
182m emergency
barrels poured into
market after Russia
invades Ukraine
120
Nov 1974
IEA created in
response to 1973-74
oil crisis
Jan 1991
IEA releases 2.5m
barrels a day during
Operation Desert
Storm
$94.83
12 Mar 2026
(hourly
futures
price)
90
60
Mar 2026
400m
emergency
barrels to be
released
30
0
1970
1975
1980
1985
1990
1995
2000
2005
2010
2015
2020
2025
$150
Jun 2011
60m barrels
released during
Nato intervention
in Libya
Mar 2022
182m emergency barrels
poured into market after
Russia invades Ukraine
Mar 2026
400m emergency
barrels to be
released
120
Nov 1974
IEA created in response
to 1973-74 oil crisis
Jan 1991
IEA releases 2.5m barrels
a day during Operation
Desert Storm
$94.83
12 Mar 2026
(hourly futures
price)
90
Sep 2005
60m barrels released
over four months after
Hurricane Katrina
60
30
0
1970
1975
1980
1985
1990
1995
2000
2005
2010
2015
2020
2025