Member countries of the International Energy Agency (IEA) could release additional emergency oil reserves later “if necessary,” as more than 1.4 billion barrels will still remain in emergency stockpiles despite the largest reserve release in history already agreed upon, Executive Director Fatih Birol said.
“Despite this enormous release, we still have many reserves left. Once completed, the current reserve release will reduce IEA countries’ emergency stocks by only around 20%,” Birol said in a video statement.
