IEA to release 60MM bbl of oil,but does the world really need it?

摘要

Oil demand is rising as it typically does in the summer season; however, due in part to civil war in Libya, supplies have been faltering. Around 132MM bbl of Libyan crude oil exports have been removed from the world oil market and supplies from the country likely will be off the market for the rest of the year. Consumer countries tried persuading OPEC to increase oil output but were unsuccessful in uieir attempt; in response, the IEA announced on June 23 that it will release 60MM bbl of oil from emergency reserves (IEA members hold a total of 1.6B bbl of oil reserves).