IEA signals potential withdrawal from global oil reserves

The Director of the International Energy Agency, Fatih Birol, said today, Thursday, that the last withdrawal from strategic oil reserves depleted about 20% of stocks, confirming that the agency is ready to move again if member states request additional amounts to be withdrawn.

Birol's statements come at a time when energy markets continue to monitor supply risks associated with war and tensions in the Middle East, amid concerns over continued pressure on global oil flows.