Global Energy Market Turmoil: IEA Applauds India's Backing for Oil Stock Release

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IEA Welcomes India's Support for Oil Stock Release Amid Global Market Disruption

The current disruption stems from Iran's effective blockade of the Strait of Hormuz following the outbreak of conflict in West Asia.

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News18•11-03-2026, 22:55

IEA Welcomes India's Support for Oil Stock Release Amid Global Market Disruption

•IEA Executive Director Fatih Birol welcomed India's backing for the agency's decision to release emergency oil stocks.
•India, an Associate Member of the IEA, supports the move to address disruptions in global energy markets.
•The Ministry of External Affairs stated India is closely monitoring the evolving situation, particularly in the Middle East.
•India stands ready to take appropriate measures to support global market stability in alignment with IEA's efforts.
•Disruptions are due to Iran's effective blockade of the Strait of Hormuz, impacting oil flows and causing price volatility.

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