The International Energy Agency is not discussing a second release of strategic oil reserves at this time, IEA chief Fatih Birol told Reuters on Monday.
“Not for the time being,” Birol said on the sidelines of an energy conference in Norway when asked whether the agency was discussing a second release of strategic reserves.
The IEA is always following the markets “very, very closely”, and 80% of strategic reserves remain after a 400 million-barrel release in March, Birol added.
On gas, Birol expressed concerns Europe’s current levels of gas reserves, which are around 62% according to transparency platform AGSI. The European Union has a target of filling levels to 80% by December 1.
“The stocks are lower than historical averages, and we are still hoping to get gas from the Middle East, and at the same time… Europe has committed itself to nullify the Russian gas imports,” he said.
“If we have a harsh winter in Europe, we may have some challenges.”
(Reporting by Nora Buli, editing by Gwladys Fouche and Terje Solsvik)