IEA member states will discuss strategic oil reserve releases if needed, Birol says

The International Energy Agency‘s member states may discuss whether more ⁠strategic ⁠oil reserves could be released on the market in the ⁠future, IEA head Fatih Birol said on Tuesday.

“We are following the markets very closely, especially the product markets, diesel and others. If ⁠there is ⁠a need, of course, we will discuss with our member governments to take the necessary steps,” he told reporters in ⁠Dublin ahead of a meeting of EU energy ministers.

Birol declined to comment on proposals hinted at by ⁠French President ‌Emmanuel ‌Macron and ⁠others to ‌release more strategic reserves in a bid ⁠to lower ⁠oil prices.