IEA's Birol says oil stock release has had 'very good' impact, easing prices

International Energy Agency Executive Director Fatih Birol said March 25 that the agency’s coordinated oil stockpile release has had a “very good” impact on the market, helping ease oil prices. Asked to comment on his assessment of the oil release’s impact on the market so far, Birol said, “Very good. We [provided] comfort to the market.” “The prices went down by $18[/barrel], but the situation isInternational Energy Agency Executive Director Fatih Birol said March 25 that the agency’s coordinated oil stockpile release has had a “very good” impact on the market, helping ease oil prices. Asked to comment on his assessment of the oil release’s impact on the market so far, Birol said, “Very good. We [provided] comfort to the market.” “The prices went down by $18[/barrel], but the situation isRead More