By The Rio Times | Created at 2026-10-03 16:46:41 | Updated at 2026-10-03 18:08:01
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ENERGY · UNITED STATES
Key Facts
- —The country The United States pledged 172.2 million barrels to the March oil stock release, the largest share, the International Energy Agency (IEA) said on 19 March 2026.
- —What happened About 325 million of the 400 million barrels pledged on 11 March had been released by 2 October, the IEA said. That leaves about 75 million barrels outstanding.
- —The numbers Country pledges tabled on 19 March added up to 426 million barrels, including 28 million from extra output in Canada and Mexico (IEA, 19 March 2026).
- —What it means for you More crude and diesel is due on the market. The G7 says its new 100 million barrels flow over four months, with diesel frontloaded in the first 20 days.
- —Still open Whether the G7’s 100 million barrels include the 75 million still owed under the March pledge, or come on top. Totals would be 400 or 500 million barrels, Veja calculated.
About 325 million barrels of oil and fuel have been released since March under an emergency action of the International Energy Agency (IEA), the agency said. That is over 80% of the 400 million barrels its members pledged on 11 March.
The United States made the largest pledge, 172.2 million barrels of crude. The update followed the G7’s separate 100-million-barrel deal (G7 Frees 100 Million Barrels as Mexico Needs US Diesel, 3 October).
What the IEA Reported
IEA Executive Director Fatih Birol gave the figure at the G7 leaders’ video meeting on Friday, 2 October. “Around 325 million barrels of the IEA collective action announced on 11 March have so far been released,” the agency said.
AFP, Veja and G1 carried the update on Saturday, 3 October. The IEA groups 32 member countries, including all G7 nations, which agreed the March action unanimously.
The agency said in March that members held over 1.2 billion barrels of emergency stocks. Industry held a further 600 million barrels under national obligations.
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Who Pledged What in March
The IEA published country pledges on 19 March, totalling 426 million barrels. Public stocks made up 280 million and obligated industry stocks 119 million.
The remaining 28 million came from higher output, 23.6 million from Canada and 3.9 million from Mexico. By product, 301 million was crude and 125 million refined fuel, a split the IEA called not final.
After the United States came Japan with 79.8 million barrels, Canada with 23.6 million from extra output and Korea with 22.5 million. Germany pledged 19.5 million, France 14.6 million, the UK 14 million and Italy 10 million.
How Far the US Share Has Gone
Washington is supplying its share through exchanges, oil lent from the Strategic Petroleum Reserve (SPR) and repaid later. Five earlier solicitations awarded over 133 million barrels, the Department of Energy said, Oil & Gas Journal reported.
On 29 September the department offered another 40 million barrels, with bids due by 6 October. The SPR held 283.8 million barrels in the week to 25 September, its lowest in over four decades.
Energy Secretary Chris Wright said the United States and Japan were delivering. “Several European member countries have released only a fraction,” he said.
How the G7 Pledge Fits
The G7 statement of 2 October commits to “a coordinated release through the IEA of 100 million barrels,” over four months. It does so “taking into account commitments that have already been fulfilled.”
It also asks the IEA to monitor “the immediate and full implementation of the March 2026 commitments.” Leaders promised talks on further diesel releases and no export curbs among G7 members.
If the 100 million barrels are extra, total releases reach 500 million barrels, Veja calculated. If they absorb the outstanding 75 million, the total stays at 400 million.
For context on the supply gap, see Oil Prices Ended the Week Near $105. Ten Million Barrels a Day Are Not Being Pumped (13 September).
What Is Not Yet Known
The G7 did not say whether its 100 million barrels include the 75 million still owed from March, AFP reported. Nor has it published a split by country or by fuel.
The IEA has not given an updated country breakdown of the 325 million barrels. The G7 asked the agency for a follow-up report within 20 days.
Sources: IEA, Executive Director at G7 leaders’ meeting, 2 Oct 2026; IEA, member country contributions, 19 Mar 2026; IEA, collective action, 11 Mar 2026; G7 leaders’ statement, 2 Oct 2026; RTÉ (AFP), 3 Oct 2026; The Straits Times (AFP), 3 Oct 2026; Veja, 3 Oct 2026; Veja, G7 release, 2 Oct 2026; G1, 3 Oct 2026; Oil & Gas Journal (DOE), 30 Sep 2026; La Jornada, 2 Oct 2026.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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