Killajoules

IEA 30-Day Review of Libya Collective Action
The IEA Secretariat has completed its 30-day review of the Libya Collective Action launched on 23 June. The review concludes that the Action served a market need by adding liquidity and bridging the gap to additional supplies from OPEC countries. The Secretariat continues to closely monitor market conditions, and the IEA stands ready to augment the Libya Collective Action if market conditions again warrant. While we are not now seeking the release of additional stocks, the Action is not yet complete as stocks are still entering the market. To date, the Libya Collective Action involves just over 2.5% of public and industry obligated stocks.