(Adds comments, details)
LONDON, June 24 The loss of Libyan oil output
since February represented a greater disruption to global oil
supply than the aftermath of Hurricane Katrina in 2005, Richard
Jones, the deputy head of the International Energy Agency, told
Reuters Insider TV.
Jones, speaking in Reuters' Paris bureau, said that the
initial disruption to oil output in Libya happened at a
"fortuitous" time for European oil refiners as many were closed
"Now we're going into the summer driving season, those
refineries which have returned to operation are about to ramp up
Jones said the market was facing a possible shortfall of 1.8
million barrels per day for the remainder of June and 1.7
million for the next quarter.
Asked whether all countries agreed to the release, Jones
said: "All 28 countries were approached with the plan and not
one country opposed it."
On Thursday, the International Energy Agency which
represents the major oil consumers agreed to release 60 million
barrels from emergency stockpiles, sending crude prices
Thursday's announcement marked only the third time that the
IEA, a policy adviser to the industrialised world's energy
consuming nations, has released its emergency stockpiles.
As well as releasing stocks in the wake of the Hurricane in
the Gulf of Mexico in 2005, the agency also made oil available
during the 1990 Kuwait crisis.
(Reporting by Simon Falush and Zaida Espana; editing by Jason