The International Energy Agency, or IEA, will this week discuss at a governor's board meeting whether to tap strategic stockpiles of crude oil against a backdrop of continued political turmoil across the Middle East, the agency's head said Tuesday.
The International Energy Agency, or IEA, will this week discuss at a
governor's board meeting whether to tap strategic stockpiles of crude oil
against a backdrop of continued political turmoil across the
Middle
East
, the agency's head said Tuesday.
The IEA's members are so far undecided on whether they will need to tap
emergency stocks in light of production outages in
Libya
, said
Nobuo Tanaka in an interview with Dow Jones Newswires. The IEA represents the
governments of developed economies.
Tanaka spoke on the sidelines of a major gathering here between producers and
consumers.
The IEA, OPEC, and top oil exporter
Saudi
Arabia
had reached agreement prior
to Tuesday's gathering that producers should tap into surplus production capacity
in case oil supply from
Libya
was
disrupted. But IEA members had "mixed" feelings about tapping
emergency stockpiles held in consuming countries, Tanaka said.
"For the sake of disruption, there's a quite clear common interest,"
Tanaka said.
"Under a very tightened market, even a very small disruption could trigger
a very big price hike. If that's the case, should we be more flexible or more
proactive in using stockpiles or not? This is an interesting question for our
members," he said.
"We have to be cautious, not to trigger by ourselves the crisis," he
said, adding that there is plenty of oil in the market and the IEA's position
was to "stand by as necessary" while closely watching the situation
in
Libya
.
Διαβάστε ακόμα
Τρι, 24 Σεπτεμβρίου 2024 - 19:58
Τρι, 24 Σεπτεμβρίου 2024 - 19:54
Τετ, 18 Σεπτεμβρίου 2024 - 18:32
Τετ, 18 Σεπτεμβρίου 2024 - 18:27
Τρι, 17 Σεπτεμβρίου 2024 - 20:01