According to CoinMeta, governments of the International Energy Agency (IEA) member countries stated at a meeting on Wednesday that they support accelerating the implementation of the oil reserve release plan announced in the collective action in March this year and strive to complete the entire release as soon as possible. Given the current tight supply in the diesel market, member countries also support releasing diesel reserves as a priority when conditions permit. To date, IEA member countries have released approximately 325 million barrels of oil in accordance with the March collective action, with some countries actually releasing more than their previously committed amounts. The IEA has made it clear that if all the oil reserves that were committed to in March but not yet released are fully discharged, an additional about 100 million barrels are expected to enter the market. This means that the approximately 100 million barrels of oil that the market has been focusing on recently is mainly a result of accelerating the implementation of the reserve release commitments made in March, rather than an additional emergency release plan of 100 million barrels. Currently, IEA member countries still hold a large amount of government-controlled emergency oil reserves, totaling about 1.1 billion barrels, including over 200 million barrels of diesel. The IEA has indicated that if market conditions require it, they are prepared to further release these reserves into the market.