Over 400 million barrels will be added to the oil market soon – what are strategic reserves and what can they do?

Nations’ stores of petroleum can dampen price shocks in the short term, but as reserve supplies dwindle, economic pain may continue.

By: Scott L. Montgomery, University of Washington, The Conversation

Outlets: The Conversation

Published: March 23, 2026

Words: 1,301

Last Updated: 4 months, 1 week ago

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By Scott L. Montgomery, University of Washington

In the second week of the Iran war – with the Strait of Hormuz effectively closed, cutting off shipping of 20% of the world’s oil supply – the International Energy Agency announced the largest release of strategic oil reserves in history. Thirty-two countries will sell a combined 412 million barrels from their reserves into the global market over four months, beginning in late March 2026.

Energy …

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