The International Energy Agency is not currently seeking additional crude oil draws from the federal emergency stockpile to manage global pricing. Director Fatih Birol stated that another release from the US Strategic Petroleum Reserve is not a top priority for the agency at this time, as the organization monitors supply disruptions through other mechanisms.

The reserve fell by approximately 800,000 barrels last week to 283.8 million barrels, the lowest level since 1982. This trend follows a 172 million barrel release ordered in March to counter disruptions in the Strait of Hormuz, which has helped keep Brent crude prices under $110. Much of that oil was issued as loans to companies including Shell, Trafigura, and Marathon, which are required to replenish the stockpile with at least an 18% premium by September 2028.