Record release of emergency oil reserves planned as prices surge - March 2026

The G7 nations, in coordination with the International Energy Agency (IEA), plan a record release of emergency oil reserves to combat surging prices driven by the US-Israel war. The United States and 32 member nations of the International Energy Agency (IEA) will jointly release 400 million barrels of oil reserves to stabilize global markets and prevent a potential fuel crisis. Kenya is also urging African nations to adopt a human-centred approach for the upcoming African Union Strategy and Plan of Action on Drug Control (2026–2030).