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IEA says will not release emergency oil after Ike

IEA says will not release emergency oil after Ike

Write: Lisbet [2011-05-20]
Tags: oil stocks
PARIS - The International Energy Agency IEA said on Saturday it would not release emergency oil stocks after hurricane Gustav and Ike disrupted oil production, the agency said on Saturday. "After a thorough joint assessment of the impact of Hurricanes Gustav and Ike, the IEA and the U.S. government have decided that a collective action to release oil to the market from strategic reserves is not necessary at this time," it said in a note posted on its website.