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IEA Releases 412 Million Barrels Amid Oil Supply Crisis

3/25/2026

30 5 Full Breakdown

Summary

Story summary

In March 2026, the International Energy Agency announced a 412 million barrel release from 32 countries after the Strait of Hormuz closed, disrupting 20% of global oil supply.
The United States will contribute 172 million barrels, lowering the Strategic Petroleum Reserve (SPR) to 243 million barrels, the lowest since the early 1980s.
The SPR was created in 1975 to moderate price increases during supply crises.

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Story summary

In March 2026, the International Energy Agency announced a 412 million barrel release from 32 countries after the Strait of Hormuz closed, disrupting 20% of global oil supply.
The United States will contribute 172 million barrels, lowering the Strategic Petroleum Reserve (SPR) to 243 million barrels, the lowest since the early 1980s.
The SPR was created in 1975 to moderate price increases during supply crises.