The global market is currently well supplied with oil, the executive
director of the International Energy Agency, Maria van der Hoeven, told Dow
Jones Newswires on Wednesday.
The agency is, however, "watching developments closely," and remains
ready to act, Ms. van der Hoeven said, adding the agency would act only
"if necessary."
She said oil prices are high, but declined to say whether the agency was
considering increasing supply to lower prices. She said only that the agency remained "on
alert."