International Energy Agency warns: Countries must not stockpile fuel during Iran war

DeepFlowTech · 2026-04-05T03:22:35+00:00

International Energy Agency (IEA) Executive Director Fatih Birol warns countries to exercise restraint in stockpiling oil and fuels to address the energy crisis triggered by the US and Israel's potential war with Iran. He pointed out that closing the Strait of Hormuz would lead to supply reductions and called for no export bans. Stockpiling behaviors have already impacted current efforts to stabilize the market.

DeepFlowTech

2026-04-05 03:22:35

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Deep Tide TechFlow message: On April 05, the head of the International Energy Agency, Birol, warned, as reported by the UK’s Financial Times, that amid the energy crisis triggered by the war between the United States and Iran, countries must resist the urge to stockpile oil and fuel. If the Strait of Hormuz continues to remain closed, supplies are expected to be further reduced. “I urge all countries not to impose export bans or restrictions,” Birol said. “This is the worst time for the global oil market. If countries hoard oil and fuel, their trading partners, allies, and neighboring countries will all be harmed as a result.” This may point to the United States.

As gasoline prices break past $4 per gallon, California faces a threat of a shortage of aviation fuel, and rumors in the United States about a possible ban on exporting refined products are spreading. So far, U.S. Energy Secretary Chris Wright has only ruled out the possibility of banning crude oil exports. Birol said that some countries have already been stockpiling energy, which undermines the effectiveness of the International Energy Agency’s plan to release 400 million barrels of crude oil and fuel from emergency reserves to help stabilize the market during the current conflict.

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