Turkey dipped below the International Energy Agency's required oil-stock level in October, the latest data show, but the country expects November data to show its stock levels to be back in line with the requirement, an official from the IEA said Tuesday.
Turkey
dipped below the International Energy Agency's required oil-stock level in
October, the latest data show, but the country expects November data to show
its stock levels to be back in line with the requirement, an official from the
IEA said Tuesday.
According to the IEA data for October,
Turkey
's
stocks were enough to cover 88 days' net imports, below the 90 days required of
its members.
Turkey
's dip
below the 90-day level is the first such occurrence since the IEA started
reporting the data early last year, the head of the agency's emergency policy
division, Aad van Bohemen, told Dow Jones Newswires.
However, officials from the IEA and from
Turkey
have
discussed the issue and the country has said it expects its November data to
show it back in line with the 90-day rule, van Bohemen said.
"If a country dips below, we talk to the country," he said.
"If this were to occur more often then of course we would be
concerned," but a one-off dip isn't a big problem, he added.
Turkey
noted
oil shipment delays when asked about the October dip, van Bohemen said.
Turkish officials didn't immediately reply to a request for comment.
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