US, Other IEA Members Have ‘Huge’ Oil Reserves That Can Be Tapped If Supply Is Disrupted: Birol

Started by Epoch-Times-Bot, Oct 25, 2022, 01:15 PM

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US, Other IEA Members Have 'Huge' Oil Reserves That Can Be Tapped If Supply Is Disrupted: Birol

Members of the International Energy Agency (IEA) can tap into its oil reserves to alleviate any supply issues, the agency's executive director Fatih Birol said in a recent interview.
The recent "unfortunate decision" by OPEC+ to cut down oil output threatens price outlook, and comes at a time when global economies are on the brink of a recession, Birol said in a group interview at the Singapore International Energy Week Conference, according to Bloomberg. "We still have huge amount of stocks to be released in case we see supply disruptions ... Currently it is not on the agenda, but it can come anytime."...

Source: US, Other IEA Members Have 'Huge' Oil Reserves That Can Be Tapped If Supply Is Disrupted: Birol

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