IEA Chief: Ready to Release More Oil Reserves if Needed

Odaily News: Fatih Birol, the Executive Director of the International Energy Agency (IEA), stated that he is prepared to release additional oil reserves as global energy prices surge. Birol made these remarks in Tokyo after Japanese Prime Minister Fumio Kishida requested the IEA to prepare for a second emergency release of reserves. Earlier this month, the IEA announced it would release 400 million barrels of oil, marking the largest oil release in the agency's history. He said, "We still have 80% of the inventory." "We are ready to move forward if necessary." However, he also warned that "the world is facing a serious threat to energy security." (Jin10)