Home / Business and Economy / IEA: No Immediate Oil Reserve Release Planned
IEA: No Immediate Oil Reserve Release Planned
24 Aug
Summary
- IEA is currently not discussing a second strategic oil reserve release.
- Over 80% of strategic oil reserves remain after March release.
- IEA chief stated they are monitoring market conditions closely.
The International Energy Agency (IEA) has stated that it is not currently considering a second release of strategic oil reserves. IEA chief Fatih Birol conveyed this information, emphasizing the agency's continuous monitoring of global energy markets.
Birol highlighted that a substantial 400 million barrels of oil were released from strategic reserves in March. As of the current assessment, the agency confirmed that a significant majority, over 80%, of these reserves are still intact. This indicates that existing strategic stockpiles remain substantial.
Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.
