The global oil market is facing the most severe disruption in its history, with the war in the Middle East largely halting energy flows through the Strait of Hormuz, a critical trade chokepoint. In response to this disruption, IEA Member countries agreed to release 400 million barrels of oil from their emergency stocks – the largest collective action since the Agency’s founding more than 50 years ago.

In this special episode, IEA Director of Energy Markets and Security Keisuke Sadamori puts the stock release in context and answers key questions about the decision and its implementation.