International Energy Agency holds emergency meeting on securing oil supplies

International Energy Agency (IEA) chief Fatih Birol convenes the agency’s 30 member states for talks to assess the security of oil supplies and “inform a subsequent decision on whether to make emergency stocks of IEA countries available,” now that the situation in the Middle East “is creating significant and growing risks” for the oil market.

IEA member countries, including the US, currently hold over 1.2 billion barrels of public emergency oil stocks. The IEA hosted a meeting at its Paris headquarters earlier in the day with G7 energy ministers.

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