The US has committed to releasing 30mn bl from its SPR
IEA coordinates crude stock release
The intergovernmental body is trying to cool the crude market
IEA members have agreed the “initial release” of 60mn bl of their crude stockpiles, following an emergency meeting “to address significant market and supply disruptions” related to the war in Ukraine. The US has committed to contribute 30mn bl from its Strategic Petroleum Reserves (SPR), and its Department of Energy plans to issues a notice of sale on 2 March. The 60mn bl release is equivalent to around 4pc of member states’ emergency stocks, which stand at 1.5bn bl, the IEA says. This release is only the fourth such coordinated withdrawal in the IEA’s history and the first for more than ten years. The organisation will continue monitoring the situation and says it is “possible” it will reco
Also in this section
18 February 2026
With Texas LNG approaching financial close, Alaska LNG advancing towards a phased buildout and Magnolia LNG positioned for future optionality, Glenfarne CEO Brendan Duval says the coming year will demonstrate how the company’s more focused, owner-operator approach is reshaping LNG infrastructure development in the North America
18 February 2026
The global gas industry is no longer on the backfoot, hesitantly justifying the value of its product, but has greater confidence in gas remaining a core part of the global energy mix for decades
18 February 2026
With marketable supply unlikely to grow significantly and limited scope for pipeline imports, Brazil is expected to continue relying on LNG to cover supply shortfalls, Ieda Gomes, senior adviser of Brazilian thinktank FGV Energia,
tells Petroleum Economist
17 February 2026
The 25th WPC Energy Congress, taking place in Riyadh, Saudi Arabia from 26–30 April 2026, will bring together leaders from the political, industrial, financial and technology sectors under the unifying theme “Pathways to an Energy Future for All”
