Emergency meeting of the International Energy Agency to discuss drawing from oil reserves
“More than 30 countries will assess supply security and current market conditions before deciding whether to draw on emergency stockpiles if necessary,” said the agency’s executive director, Fatih Birol, in a statement Tuesday.
He added: “The G7 energy ministers met earlier today to discuss options for dealing with supply disruptions, and asked the agency to prepare scenarios for drawing on stockpiles in emergencies.”.
Advantages and disadvantages
For his part, French Finance Minister Roland Lescure told reporters in Paris that the group's countries are ready to draw on reserves when needed, and that they have tasked the International Energy Agency with studying the quantities that can be released.
For his part, EU Energy Commissioner Dan Jorgensen stated that the Energy Agency would today present an assessment of the advantages and disadvantages of drawing on emergency oil reserves at the present time.
