International Energy Agency Administrator Bill expects no emergency oil reserves

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      The head of the International Energy Agency (IEA) said Wednesday that after the weekend attack on Saudi Arabia's oil facilities, the agency currently sees no need to release emergency oil reserves.
"The current market is well supplied and we don't think it's necessary to take such action at the moment," International Energy Agency Administrator Bill said at an online seminar.
The government-controlled agencies of IEA member countries hold about 1.55 billion barrels of emergency reserves to meet global oil demand on the 15th, Birol said.


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