Asian Spectator

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Over 400 million barrels will be added to the oil market soon – what are strategic reserves and what can they do?

  • Written by Scott L. Montgomery, Lecturer in International Studies, University of Washington
Over 400 million barrels will be added to the oil market soon – what are strategic reserves and what can they do?The world is about to open up reserve oil supplies.Photo illustration by PashaIgnatov/iStock/Getty Images Plus

In the second week of the Iran war – with the Strait of Hormuz effectively closed, cutting off shipping of 20% of the world’s oil supply – the International Energy Agency announced the largest release of strategic oil...

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