International Energy Agency Statement on Strategic Petroleum Reserves
IEA Chief Birol stated ahead of a meeting in Dublin that they are monitoring the markets and could take reserve action with member countries if needed.
International Energy Agency (IEA) Chief Birol announced that they are closely monitoring global energy markets ahead of the European Union energy ministers meeting held in Dublin.
Market Developments and Close Monitoring
International Energy Agency Chief Birol stated in his remarks to journalists in Dublin that they are closely monitoring the diesel and other product markets in particular.
Emphasizing that necessary steps would be taken by contacting member governments in case of a possible need, Birol noted that the process is being monitored meticulously.
Reserve Proposals and Methane Rules
Comments were avoided regarding the proposals to release strategic reserves into the market, which were brought to the agenda by French President Emmanuel Macron and other leaders.
On the other hand, it was reported that the European Union is evaluating the possibility of postponing the implementation of methane emission rules for oil and natural gas imports.