IEA chief Birol says more emergency oil releases possible if needed
Fatih Birol says the agency could draw further on emergency stocks on top of the 400 million barrels already confirmed.
Published
International Energy Agency head Fatih Birol said the agency will consider releasing more oil from emergency stocks if current measures fall short.
The agency has already confirmed reserve releases topping 400 million barrels, with member nations signalling they are open to further steps as a supply gap tied to Iran persists.
The IEA has quantified that gap at 1.73 million barrels a day. Its board met on October 15 and agreed on tranches of diesel and crude to help cover the shortfall.
Birol's comment suggests the agency still treats the deficit as unresolved rather than closed out by what the board has already agreed. Coming after members said they were ready for additional steps, it keeps open the chance of further releases rather than a single completed action, which bears on how much of the current supply gap is covered through stockpiles versus a recovery in physical production in the Middle East.
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