IEA Maintains Emergency Plan to Face Up to Oil Shortage Risks
Posted on: Friday, 16 September 2005, 09:00 CDT
IEA maintains emergency plan to face up to oil shortage risks
PARIS, Sept. 15 (Xinhua) -- The International Energy Agency ( IEA) announced Thursday that it will stick to its plan started early September after Hurricane Katrina ravaged in the United States to face up to oil shortage risks.
The plan will release in international market 2 million barrels per day during 30 days, or 60 million barrels of oil from strategic reserves of IEA member states.
"The IEA governing board, after reviewing its initial collective response action of September 2 facing perturbations in oil supply following the Hurricane Katrina, has decided to maintain its action," IEA executive director Claude Mandil said in a statement after a meeting of the IEA board.
The IEA plans to reexamine the situation at the end of September or early October, the statement added.
Source: Xinhua News Agency - CEIS
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