Business & Economics
IEA Green-Lights Record 400 M-Barrel Strategic Release After Hormuz Shutdown
On 15-16 March 2026 the International Energy Agency approved and scheduled the largest emergency drawdown in its 52-year history—about 400 million barrels, with Asia-Oceania barrels flowing immediately and European/American stocks starting by late March—to blunt the supply shock from the de-facto closure of the Strait of Hormuz since 28 February.