Countries agree to record release of emergency oil reserves as prices surge

"The UK is playing our part in working with our international allies to address the disruption in oil markets."

— Ed Miliband , Politician

"Once you release them, they don't exist."

— Nick Butler , Academic

"The release helps but it doesn't fully offset that disruption."

— Jorge Leon , Other

"The decision will not help the global gas market, which he described as very challenging."

— Fatih Birol , Executive

"we’re not there yet on agreeing to release oil stockpiles."

— Roland Lescure , Politician

"the rise in oil prices was 'a very small price to pay' for the US 'and world, safety and peace'."

— Donald Trump , Politician

"Oil markets are global so the response to major disruptions needs to be global, too. Energy security is the founding mandate of the IEA, and I am pleased that IEA members are showing strong solidarity in taking decisive action together."

— Fatih Birol , Executive

"act first to release about 80m barrels from its private and national oil reserves"

— Sanae Takaichi , Politician

"We will comply with this request and contribute our share, because Germany stands behind the IEA’s most important principle: mutual solidarity."

— Katherina Reiche , Politician

"a voluntary call, which gives countries time to respond pending their national circumstance"

— Chris Bowen , Politician

"emergency collective action of unprecedented size"

— Fatih Birol , Executive

"equivalent of 20 days of the volume being exported through the Strait of Hormuz"

— Emmanuel Macron , Politician

"releasing reserves as early as the 16th of this month"

— Sanae Takata , Politician

"Germany stands behind the IEA’s most important principle of mutual solidarity."

— Katherina Reiche , Politician