The US International Energy Agency (IEA) has issued the following statement confirming that it is closely monitoring the situation caused by Hurricane Harvey.
The statement read: “It is too soon to know how long oil production and refining operations will be disrupted, or the extent of the damage. However, for now, the IEA does not see a need to act as the market is amply supplied. Oil stocks, both crude and products, are well above the five-year average, in the United States as well as globally.
“The situation is being reviewed constantly and the IEA stands ready to act as required.”
Read the article online at: https://www.hydrocarbonengineering.com/refining/29082017/iea-monitoring-outcomes-of-hurricane-harvey/