IEA Says More Emergency Oil Stocks Available as War Drags On

The International Energy Agency, which last week announced a record release of oil reserves to ease the impact of the Iran war, said it has more that can be made available if needed.

The emergency release that’s underway will only reduce the IEA’s reserves by 20%, and the agency still has “over 1.4 billion barrels remaining, which means we can do more later, as and if needed,” IEA Executive Director Fatih Birol said in a televised statement.