G7 Holds 1 Billion Barrels in Emergency Oil Reserves as IEA Considers Release

The Group of Seven nations hold approximately 1 billion barrels of emergency oil reserves that could be tapped to stabilize markets as prices surged toward $120 per barrel amid the ongoing war in Iran, the International Energy Agency announced last Monday.

The visualization above shows how much oil G7 countries hold in emergency reserves. 

The combined stockpile totals 1,019.4 million barrels across seven countries, according to IEA data, but the distribution reveals who would actually control any emergency release.

• The United States (415.4 million barrels) and Japan (260 million barrels) control two-thirds of available reserves.
• Canada, despite producing approximately 5 million barrels per day and ranking among the world’s largest oil exporters, holds no emergency reserves as it's not required by the IEA.