IEA Birol: we are not talking about a second release from strategic oil reserves

Fatih Bibil, the IEA's chief, said on Monday that they are not presently?discussing a?second?release of strategic oil reserv?es.

Birol replied "Not at the moment" when asked if the agency would be discussing a second release from strategic reserves.

Birol said that the IEA always follows markets "very closely" and that 80% of strategic reserve remains?after a release of 400 million barrels in March.

Birol was concerned about the current level of gas reserves in Europe, which is around 62%, according to the transparency platform AGSI. The European Union has set a goal of 80% filling by December 1.

He said: "The stocks were lower than the historical averages and we are still hoping for gas from the Middle East, but at the same time...?Europe is committed to canceling the Russian 'gas imports.

"If we have a harsh winter in Europe, there may be some challenges." Reporting by Nora Buli. Editing by Gwladys?Fouche and Terje Solsvik

(source: Reuters)