WASHINGTON, United States — Fears of a global fuel crisis eased Thursday after the United States and other major economies agreed to release hundreds of millions of barrels of oil from emergency reserves to stabilize global supply and prices.
In a statement, Chris Wright, the U.S. Secretary of Energy, said the 32-member nations of the International Energy Agency had unanimously approved a coordinated release of oil reserves in response to rising geopolitical tensions in the Middle East.
The countries will jointly release about 400 million barrels of crude oil and refined petroleum products from strategic stockpiles in an effort to calm global energy markets and prevent a spike in fuel prices.
The move follows a directive by Donald Trump, who requested the emergency action as concerns mounted that conflict in the region could disrupt critical oil supply routes.
Under the coordinated plan, the U.S. Department of Energy will release 172 million barrels from the country’s Strategic Petroleum Reserve beginning next week. The process is expected to take approximately 120 days.
Officials say the intervention is designed to increase global supply quickly and reassure markets at a time when uncertainty around Middle East shipping routes has begun pushing oil price speculation higher.
The emergency response comes as tensions escalate around the Strait of Hormuz, a narrow but critical maritime corridor that carries roughly 21pc of the world’s oil supply.
The strategic waterway serves as the main export route for crude from Gulf producers, including Saudi Arabia and the United Arab Emirates.
Recent threats by Iran to close the passage amid the ongoing regional conflict have raised fears that a blockade could disrupt global supply chains and send fuel prices sharply higher.
Import-dependent economies, including Kenya, have been closely monitoring the situation due to their reliance on petroleum shipments from the Gulf region.
Kenya imports most of its fuel through government-to-government supply agreements with Middle Eastern producers, making the country vulnerable to disruptions in maritime oil transport routes.
Earlier, Kenya’s Energy Cabinet Secretary Opiyo Wandayi assured the public that the country currently holds sufficient petroleum stocks to meet both domestic and regional demand for at least two months.
Wandayi said scheduled fuel shipments have already been secured up to the end of April 2026, providing a buffer against potential short-term supply shocks.
The government is also holding consultations with oil marketers and suppliers involved in the state’s government-to-government fuel supply programme as part of contingency planning.
These discussions include engagement with Saudi Aramco, one of the key partners supplying petroleum products under Kenya’s fuel import arrangement.
Energy analysts say the coordinated release of strategic reserves by IEA members is intended to reassure markets and prevent panic-driven price spikes while diplomatic and security developments in the Middle East continue to unfold.
