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International Energy Agency

Energy & Commodities

IEA sees possibility of critically low oil stockpiles ahead of peak summer demand

International Energy Agency executive director Fatih Birol says continued trade disruption risks pushing oil and petrol prices even higher.
International

Iran war undermines trust in Hormuz transit: IEA’s director Birol

Now in its second month, the war in the Strait of Hormuz effectively chokes off around a fifth of global oil and LNG supply.
Global Enterprise

Iran war to keep petrol market tight for two more years: IEA

The market was underestimating the consequences of a prolonged closure of the Strait of Hormuz, said Fatih Birol.
Global Enterprise

Loss of energy output in Middle East due to Iran war will take about 2 years to recover: IEA chief

Iran has almost entirely blocked the traffic in the Strait of Hormuz, through which about 20 per cent of world oil and gas regularly flows.
Global Enterprise

Oil, gas crisis triggered by Iran’s Hormuz blockade worse than 1973, 1979, 2022 together: IEA chief

Further oil reserves can be released as necessary if the Iran war further disrupts global energy markets over the coming days and weeks, IEA executive director Fatih Birol said.
Global Enterprise

Over 40 Middle East energy assets ‘severely damaged,’ IEA says

Buyers in Asia are most reliant on flows from the Middle East, so the speed of reserve releases is particularly key for the region. 
International

Over 400 million barrels of emergency oil reserves to flow to global markets, starting with Asia immediately: IEA

The Strategic Petroleum Reserve currently contains roughly 415 million barrels, about 60% of its capacity, following a series of withdrawals by the Biden administration.
Energy & Commodities

US to release 172 million barrels of oil for IEA relief plan

Resource-scarce Japan is vulnerable to disruptions to energy flows, as the war in the Middle East upends global oil and gas markets.
Energy & Commodities

Japan to release 80 million barrels of oil from reserves

Trump is facing political pressure to address rising fuel prices that have been driven up by the spike in oil prices.
Energy & Commodities

Trump signals US will tap oil reserve to ease price shock

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