The International Energy Agency has said member countries have released around 325 million barrels of oil from emergency reserves as governments respond to disruptions in global energy supplies.
The unprecedented release is intended to ease pressure on international markets and reduce concerns over fuel shortages.
Energy markets have remained highly sensitive to geopolitical tensions, particularly because of uncertainty surrounding oil supplies from the Middle East.
The release of strategic reserves is designed to provide temporary additional supplies while governments assess the longer-term situation.
The United States has also indicated that it intends to rebuild its strategic petroleum reserves after using significant quantities during the current crisis.
The large-scale release highlights the extent of concerns surrounding global energy security.
Oil prices have risen sharply during periods of heightened tension, creating additional pressure on consumers, businesses and governments.
For countries dependent on imported fuel, prolonged high prices could increase transportation and production costs.
Energy analysts are therefore closely monitoring developments in the Middle East and the ability of major producers to maintain supplies.
