According to the International Energy Agency (IEA) newsletter “Energy Mix,” the IEA is urging member governments to accelerate emergency oil stock releases and prioritize diesel as disruptions through the Strait of Hormuz and reduced Russian supplies strain global fuel markets.
The IEA’s current membership includes Australia, Austria, Belgium, Canada, Czechia, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Japan, Latvia, Lithuania, Luxembourg, Mexico, Netherlands, New Zealand, Norway, Poland, Portugal, Slovakia, South Korea, Spain, Sweden, Switzerland, Türkiye, United Kingdom, and the United States.
The IEA’s membership page still lists these 32 countries, plus a separate February 2026 announcement says Colombia was invited to become its 33rd member, but Colombia remains listed as an accession country.
IEA Executive Director Fatih Birol wrote to member governments Sunday, asking them to consider what more they could do to speed up and expand their stock releases, with diesel the priority, according to an agency update.
The appeal follows a meeting at which member governments supported completing emergency releases as soon as possible. The releases were announced March 11 in response to supply disruptions through the Strait of Hormuz.
Governments also supported prioritizing diesel stocks where possible. The IEA described diesel markets as facing unprecedented tightness in recent weeks, with the Hormuz disruptions compounded by declining Russian supply following Ukrainian attacks on Russian oil refineries.
Birol said the March 2026 collective action remains underway and provides a framework for further steps. An IEA Governing Board meeting Thursday will give member governments an opportunity to review those efforts.
“As we did in March, I believe we can once again demonstrate the IEA’s capacity to act together in support of energy security and economic stability,” Birol said in his message.
The agency said Birol also discussed pressure on diesel supplies at a recent meeting of G7 leaders, attending at the invitation of French President Emmanuel Macron.
In a separate meeting with European Union energy ministers in Dublin, Birol emphasized the challenges Europe faces in diesel and natural gas markets and called for close cooperation on energy security.
The IEA said its monthly Oil Market Report, scheduled for release Wednesday, will include updated data and analysis of the supply situation.
About the International Energy Agency
The International Energy Agency coordinates cooperation on energy security, including emergency oil stock releases during major supply disruptions. It also provides data, research and policy analysis on energy markets, technologies and the transition to cleaner energy. The agency has 32 member countries and works with additional countries through its association and accession programs. www.iea.org
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