India has said it is ready to support global oil markets after the International Energy Agency (IEA) announced a record release of oil from emergency reserves to ease supply concerns and stabilise prices.
The IEA said its member countries would release around 400 million barrels of oil from their strategic petroleum reserves. The move is aimed at increasing supply in global markets and reducing pressure on oil prices, which have risen due to supply disruptions and geopolitical tensions.
The Government of India said it is closely monitoring developments in international energy markets and supports efforts to ensure stability in global oil supplies. Officials said India stands ready to take suitable steps if required to help maintain market balance, though no specific measures have been announced so far.
The emergency release comes as tensions in parts of the Middle East have raised concerns about disruptions to oil supply routes. These concerns have pushed up global crude prices and increased uncertainty in energy markets.
According to the IEA, the coordinated release of oil reserves is the largest in the organisation’s history. Member countries will release oil based on their individual capacities and national conditions to ensure markets receive additional supply in the coming months.
Although India is not a full member, it works closely with the IEA as an associate member and participates in discussions on global energy security. As one of the world’s largest oil importers, India is highly sensitive to changes in global oil prices and supply disruptions.
Officials said India continues to strengthen its own strategic petroleum reserves and diversify its sources of crude oil imports to improve energy security.
Experts believe the large reserve release could help calm markets in the short term by increasing available supply. However, they also note that long-term stability will depend on how geopolitical tensions evolve and whether key global oil supply routes remain stable.
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