IEA requires the member states to hold oil stocks equivalent to at least 90 days of net oil imports and to be ready to collectively respond to severe supply disruptions affecting the global oil market. The current tally of the combined strategy reserves at IEA members is about 1.2 billion barrels.
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The impact of the growing use of renewable energy is a subject of ongoing debate and research. Many fossil-fuel producing countries, such as , , and , are currently able to exert diplomatic or geopolitical influence as a result of their oil wealth. Most of these countries are expected to be among the geopolitical "losers" of the energy transition, althou.
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