The International Energy Agency (IEA) decided not to announce a further tapping of oil from strategic reserves today after the 30-day review of the release of 60m barrels last month. However, the group noted that stocks from that action are still entering the market and stressed that it is ready to supply more oil if required to offset any increase in demand or shortfall in supply. This should help cap oil prices in the coming months, although we believe that they will fall regardless of what the IEA does.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services