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.”…