Countries that belong to the International Energy Agency have released 325 million barrels of oil and petroleum products from their emergency reserves, as global energy markets face supply concerns.

The IEA disclosed this on Saturday, days after the Group of Seven agreed with the agency to make another 100 million barrels of crude oil and diesel available to the market.

The latest release is part of efforts to increase oil supplies and reduce pressure on energy markets following disruptions linked to the US-Iran war.

The agency had initially pledged to make 400 million barrels available from strategic reserves in March. However, only 325 million barrels had been released as of Saturday, leaving 75 million barrels outstanding.

The G7 did not clarify whether the newly announced 100 million barrels includes the remaining 75 million barrels from the earlier commitment or represents an additional supply.

Strategic oil reserves are emergency stockpiles maintained by countries to help protect their economies when major disruptions threaten normal energy supplies.

The coordinated releases are expected to provide additional crude and refined products to the global market and help limit further increases in fuel and energy prices.