International Energy Agency members have released around 325 million barrels of oil and petroleum products from emergency reserves, more than 80% of the 400 million barrels pledged on March 11, IEA chief Fatih Birol said. The update comes as energy markets remain strained by the Iran war and disruptions to supplies through the Strait of Hormuz.

G7 nations and their partners agreed Friday to release 100 million barrels over four months, beginning immediately, with a substantial diesel release within the first 20 days. That schedule implements March commitments rather than representing an entirely new pledge. The agreement also reaffirmed that G7 members would avoid energy export restrictions among themselves, and President Donald Trump ruled out a US diesel export ban.

Birol said the IEA will finalize the distribution after consulting member states and can release more reserves if necessary. Oil analyst Rory Johnston cautioned that much of Europe’s emergency stock is held commercially under government requirements: lowering those requirements permits companies to sell barrels but does not guarantee they will.