New IEA Chief Says No Need for Another Oil Stockpile Release

Bloomberg reports that according to Maria van der Hoeven, the executive director of the International Energy Agency, there is no need to release emergency oil stockpiles again.

The market news is quoted as saying:

The IEA coordinated the release of 60 million barrels of oil in June to offset lost supplies from Libya, where fighting between anti-government rebels and forces loyal to Muammar Qaddafi all but shuttered the country’s crude exports.

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