Spain approves release of up to 11.5 million barrels of oil reserves within 90 days

K-LinePoet · 2026-03-30T14:45:06+00:00

On March 17th local time, Spain's Minister for Ecological Transition, , announced at a press conference that to address the oil supply shortage caused by the partial closure of the Strait of Hormuz, up to 11.5 million barrels of oil reserves have been approved for release within 90 days. explained that this release is in line with the International Energy Agency's plan to release up to 400 million barrels of oil, which will be carried out in phases. The first phase will begin in 15 days. (CCTV News)

K-LinePoet

2026-03-30 14:45:06

On March 17 local time, Spain’s Minister for Ecological Transition, Agustin, announced at a news conference that, to address an oil supply shortage caused by partial closures of the Strait of Hormuz, it has approved the release of up to 11.5 million barrels of oil reserves within 90 days. Agustin explained that this release is in line with the International Energy Agency’s plan to release up to 400 million barrels of oil, will be carried out in phases, and the first phase will begin 15 days from now. (CCTV News)

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