On Thursday, the International Energy Agency (IEA) disclosed that members have committed 426 million barrels of oil to the global market, exceeding the 400 million‑barrel target set to counteract the Middle East war‑related supply disruption. The move highlights the Group of Seven’s (G7) leadership in providing a market buffer.

The IEA’s update comes amid concerns that the conflict has triggered the largest supply disruption in the history of the global oil market. The agency stresses that the emergency release is only a temporary cushion while regular shipping through the Strait of Hormuz resumes.

Key contributions include United States pledging 172.2 million barrels, Japan adding 79.8 million barrels, and Canada committing 23.6 million barrels. The fourth‑largest pledge came from non‑G7 South Korea with 22.5 million barrels, followed by Germany at 19.5 million barrels and France at 14.6 million barrels. Crude oil accounts for 301 million barrels of the committed volumes, while 125 million barrels are oil products. Public stocks total 280 million barrels and industry‑held stocks amount to 119 million barrels.

The IEA noted that initial volumes of oil from the emergency reserves have already started to be made available. It added that the detailed split between crude and refined products, and the volumes coming from public stocks or the lowering of industry obligations, remain subject to change as countries refine the specifics of their contributions. The agency also emphasized that adequate insurance mechanisms and physical protection for shipping are key to the resumption of flows.

Separately, the European Commission stated that oil supply remains stable for the moment thanks to diversification efforts, with member states prepared and stocks at a high level. It warned that the EU’s security of oil supply would be reassessed if a prolonged disruption of energy flows through the Strait of Hormuz occurs.

Looking ahead, the IEA expects the emergency release to provide a short‑term buffer while the industry adjusts to the new shipping realities. Continued G7 cooperation and the gradual return of regular maritime traffic are seen as essential to restoring stable market flows.