The above declaration was made by Faith Birol, director of the IEA, during his visit to Tokyo. Meaning that responded to the appeal Japanese Prime Minister Sanae Takaichi, who called for the preparation of additional measures to address the protracted conflict.
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The war in the Middle East has been ongoing since February 28 and has caused serious disruptions in the energy market.
The conflict led to the blockade of the Strait of Hormuz, which stopped the transport of oil and gas from the Persian Gulf region. As a result, energy prices on world markets have skyrocketed.
The agency has activated strategic reserves
Member States The IEA released an unprecedented 400 million barrels of oil in early March from its strategic reserves. The organization emphasized that it was the largest operation of this type in the entire history of the IEA.
However, Birol reassured that the resources used were a small part of the available supplies.
— 80 percent the stock is still in our hands. 400 million barrels is only 20%. – he said.
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The head of the IEA added that the organization retains full capacity for further interventions. — If and when necessary, we are ready to take further action, but I very much hope that it will not be necessary – he said.
