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Energy and Natural Resources Minister Alparslan Bayraktar announced that Türkiye will release 11.6 million barrels from its strategic oil reserves to support the International Energy Agency's (IEA) decision to release emergency petroleum stocks
Bayraktar made the announcement while visiting a coal mine in Zonguldak, responding to questions from Bloomberg.
"Today we convened our national oil stock committee and decided to release 2.9 percent of our 400 million barrel reserve to support the IEA's initiative," Bayraktar said.
He added that the oil would be released within 90 days.
IEA announced this week it would release 400 million barrels, its highest emergency petroleum stockpile release to date, following the Middle East conflict that has driven prices above $100 per barrel.
Regarding whether Türkiye would seek exemptions from the United States to increase oil purchases from Russia, Bayraktar said: "We don't have a serious problem. If one arises, we will do something; if it does, we will look at it."
Bayraktar noted that rising air temperatures have reduced natural gas import needs, including supplies from Iran. "As of today, we don't see any problems with natural gas. This is something our citizens are not experiencing either," he said.
Türkiye's decision to tap its strategic reserves aligns with broader international efforts to stabilize energy markets disrupted by the ongoing U.S.-Israeli military campaign against Iran launched Feb. 28.
The conflict has created significant supply chain pressures on global crude and natural gas markets.
Iran has responded with retaliatory attacks targeting oil infrastructure and tanker traffic across the Persian Gulf and surrounding waters.
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