China, the United States, and Japan hold most strategic oil inventories in 2025 ›

In the 1970s, the United States and other OECD countries established strategic oil stocks aimed at mitigating the impact of supply disruptions. In March 2026, the United States, along with other members of the International Energy Agency, agreed to a coordinated emergency release of strategic oil stocks following the effective closure of the Strait of Hormuz. More ›

Data source: U.S. Energy Information Administration, Short-Term Energy Outlook (STEO), March 2026