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IEA sees no need for emergency oil stock release
A general view shows an oil refinery in Zawia, 55km west of Tripoli. Exports from Libya plummeted this year as political strife and labour protests shut oil fields, refineries and ports. u00e2u20acu201d Reuters pic

LONDON, Sept 18 — The International Energy Agency currently does not see a need to release emergency oil stocks following a weekend attack on Saudi Arabia’s oil facilities, the agency’s head said today.

"Currently the markets are well supplied and at this point we do not see the need to take such action,” Fatih Birol said in a webinar.

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IEA member countries hold about 1.55 billion barrels of emergency stocks in government-controlled agencies, which amount to 15 days of total world oil demand, Birol said. — Reuters

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