IEA supports accelerating the release of about 100 million barrels of established reserves with priority allocated to diesel

智通财经2026/10/07 15:12

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The International Energy Agency (IEA) member governments announced at a meeting on Wednesday their support for accelerating the implementation of the oil reserve release plan announced during March's collective action, aiming to complete the full release as soon as possible. Given the current tight supply in the diesel market, member countries also supported the prioritization of diesel reserves where conditions permit. So far, IEA member countries have released around 325 millions barrels of oil based on the March collective action, with some releasing amounts exceeding their previous commitments. The IEA clarified that if all the oil reserves pledged in March but not yet released are fully delivered, approximately 100 millions barrels would enter the market. This means that the recently discussed release of about 100 millions barrels mainly refers to the acceleration of the previously promised releases in March, rather than an additional emergency plan for 100 millions barrels. Currently, IEA member countries still hold large government-controlled emergency oil reserves, totaling around 1.1 billions barrels, including more than 200 millions barrels of diesel. IEA stated that if market conditions require, they are prepared to release further reserves to the market.

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The International Energy Agency (IEA) member governments stated at a meeting on Wednesday that they support accelerating the implementation of the oil reserve release plan already announced during the collective action of March this year, and aim to complete the entire release as soon as possible. Given the current tight supply in the diesel market, member countries also support prioritizing the release of diesel reserves when conditions permit. So far, according to the March collective action, IEA member countries have already released about 325 million barrels of oil, with some countries actually exceeding their previous commitments. The IEA made it clear that if all oil reserves already pledged but not yet released under the March action are fully released, it is expected that about 100 million barrels will enter the market. This means the recent market attention to the scale of 100 million barrels mainly refers to expediting the fulfillment of the March reserve release commitment, rather than an additional emergency release plan for 100 million barrels. Currently, IEA member countries still hold a large quantity of government-controlled emergency oil reserves, totaling about 1.1 billion barrels, including over 200 million barrels of diesel. The IEA stated that, if market conditions require, it is prepared to further release these reserves into the market.

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The US Dollar Index, which measures the dollar against six major currencies, rose by 0.4% on the day, closing at 102.242 in the late New York forex market. By the close, 1 euro exchanged for 1.1199 US dollars, down from the previous session's 1.1261 US dollars; 1 British pound exchanged for 1.3219 US dollars, down from the previous session's 1.3277 US dollars. 1 US dollar exchanged for 157.96 Japanese yen, down from the previous session's 158.12 yen; 1 US dollar exchanged for 0.8330 Swiss francs, up from 0.8313 Swiss francs; 1 US dollar exchanged for 1.4256 Canadian dollars, up from 1.4209 Canadian dollars; and 1 US dollar exchanged for 9.9992 Swedish krona, up from 9.9861 Swedish krona in the previous session.

智通财经•2026/10/07 20:01

The US Dollar Index rose by 0.4%, closing at 102.242.

New York oil prices closed down 1.3%, Brent crude oil fell 0.38%.

At the close of trading, the November delivery light crude oil futures price on the New York Mercantile Exchange fell by $1.16, settling at $88.28 per barrel, a decrease of 1.3%. The December delivery Brent crude oil futures price in London fell by $0.38, closing at $100.20 per barrel, a decrease of 0.38%.

智通财经•2026/10/07 20:00