How much oil do G7 countries hold in emergency reserves?

Oil prices surged to almost $120 per barrel as of the report, prompting the IEA to say G7 countries are considering releasing emergency oil stocks to address a Middle Eastern supply crisis. The move signals a meaningful supply shock that raises near‑term inflation and market volatility, likely to be supportive for energy producers while acting as a risk‑off driver for broader equity markets.

Analysis

Oil prices surged to almost $120 per barrel as of the report, prompting the IEA to say G7 countries are considering releasing emergency oil stocks to address a Middle Eastern supply crisis. The move signals a meaningful supply shock that raises near‑term inflation and market volatility, likely to be supportive for energy producers while acting as a risk‑off driver for broader equity markets.