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No need for emergency oil supply, but security is a concern, IEA chief warns

With almost 4.5bn barrels of oil in reserves, the countries of the IEA have enough oil stored to meet more than a month-and-a-half of global demand. But IEA leader Fatih Bitrol does not believe deploying any reserves is necessary at the moment. Instead, he warned policymakers to be vigilant about security in oil production and supply

Fatih Birol said the world is well supplied and is confident Saudi Arabia will meet its commitment to restore full production by end of September

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