Global oil reserves revealed: Which countries hold emergency stockpiles and how much oil they keep for crises

Oil reserves by country: Countries that depend on oil imports or play a major role in global energy markets often maintain large emergency reserves and storage systems. These reserves act as a safety buffer during supply disruptions, helping governments stabilize markets and maintain fuel supplies when global energy flows are interrupted.

IEA Calls for Coordinated Release of Emergency Oil Reserves

During an online meeting with Group of Seven finance ministers, the International Energy Agency (IEA) called for a coordinated release of emergency oil reserves, as per a report. Japanese Finance Minister Satsuki Katayama said "IEA called for each country to do a coordinated release of oil reserves," adding "In response to the current situation... the G7 has agreed to continue closely monitoring developments in the energy market and to take necessary measures to support global energy supply, including the release of oil reserves," as quoted by Reuters.

Why Countries Maintain Strategic Oil Reserves and Backup Storage

Under IEA rules, member countries that are net oil importers must keep at least 90 days’ worth of oil imports in stock. These reserves are stored in government facilities, commercial storage sites and industry stockpiles.


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United States Strategic Petroleum Reserve Explained

The United States holds about 415.4 million barrels of crude oil in the Strategic Petroleum Reserve, according to the US Energy Information Administration, reported Reuters. In addition to this government stockpile, about 439.3 million barrels of oil are held as commercial reserves by private companies.

Japan’s Massive Oil Stockpile and Energy Security Strategy

Japan maintains one of the largest oil stockpiles in the world. The country holds about 260 million barrels of crude oil in government reserves. In total, Japan has around 470 million barrels of oil-equivalent stored across the country. Government reserves alone represent about 146 days of imports. Private companies also hold around 180 million barrels of oil-equivalent fuels, including about 90 million barrels of crude oil.

Germany’s Emergency Oil and Petroleum Product Storage

Germany stores about 110 million barrels of crude oil along with around 67 million barrels of finished petroleum products. According to the country’s economy ministry, these reserves can be released within days if needed.

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France’s Strategic Petroleum Stocks Managed by SAGESS

France had about 120 million barrels of crude oil and petroleum products in storage at the end of 2024. Around 97 million barrels are managed by SAGESS, a government-mandated entity. These reserves include roughly 30% crude oil, 50% gasoil, 9% gasoline, 7.8% jet fuel and some heating oil. Another 39 million barrels are held by oil companies operating in the country.

Italy’s Legal Requirement to Maintain 90 Days of Oil Reserves

Italy is required by law to maintain about 76 million barrels of oil reserves, which represents around 90 days of the country’s average net oil imports in 2024.

United Kingdom’s Oil Reserve System and Industry Stockpiles

The United Kingdom holds about 38 million barrels of crude oil and around 30 million barrels of refined petroleum products. The government meets its requirement by obligating industry to maintain minimum stock levels. Some of these reserves are held overseas through the IEA ticket system or stored in the UK for other countries.

Why Canada Does Not Maintain a Strategic Petroleum Reserve

Canada does not maintain a strategic petroleum reserve and is not required to do so because it is a net oil exporter. The country is the world’s fourth-largest crude producer and pumped more than 5 million barrels per day in December, with most of its exports going to the United States.

Global Oil Storage Levels and Floating Tanker Reserves

Global oil inventories had been increasing in recent months. According to the IEA, observed global oil inventories rose by about 1.3 million barrels per day in 2025, adding roughly 477 million barrels and reaching their highest level since March 2021.

In addition to onshore storage, oil is also stored on tankers at sea. Data from analytics firm Kpler show that around 80 million barrels of oil are currently stored on tankers, with nearly two-thirds located in Asia.

Why Iran, Venezuela, and Russia Hold Large Floating Oil Stocks

Much of this floating storage comes from Iran, Venezuela and Russia, which are subject to Western sanctions. Iranian crude alone accounts for about 50 million barrels of this stored oil.

How the Strait of Hormuz Disruption Is Affecting Global Oil Storage

Energy supply disruptions have increased pressure on global storage systems. Nearly 15 million barrels per day of crude production, along with another 4.5 million barrels per day of refined fuels, have been stranded in the Gulf following the near-complete closure of the Strait of Hormuz.

With exports blocked, producers have been moving crude into onshore tanks and offshore tankers. Iraq has already shut down at least a quarter of its 4.3 million barrels per day of production due to limited storage capacity, as per the Reuters report. Kuwait, the United Arab Emirates and Saudi Arabia still have some storage capacity available, but it is limited.

FAQs

How much oil must countries store under IEA rules?

IEA member countries that import oil must hold reserves equal to at least 90 days of their net oil imports.

Which country has the largest government oil reserve?

The United States has one of the largest emergency oil reserves through its Strategic Petroleum Reserve.