September 18, 2019 / 1:31 PM / a month ago

IEA sees no need for emergency oil stock release

FILE PHOTO: International Energy Agency Executive Director Fatih Birol speaks during the "Rome 2015 MED, Mediterranean dialogues" forum in Rome, Italy, December 11, 2015. REUTERS/Max Rossi/File Photo

LONDON (Reuters) - The International Energy Agency currently does not see a need to release emergency oil stocks following a weekend attack on Saudi Arabia’s oil facilities, the agency’s head said on Wednesday.

“Currently the markets are well supplied and at this point we do not see the need to take such action,” Fatih Birol said in a webinar.

IEA member countries hold about 1.55 billion barrels of emergency stocks in government-controlled agencies, which amount to 15 days of total world oil demand, Birol said.

Reporting by Ron Bousso; editing by David Evans

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below