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IEA says risk of oil supply disruptions by conflict limited
Mint Mumbai
|October 13, 2023
The International Energy Agency (IEA) said on supply disruptions due to the conflict between Israel and Hamas is limited but that it stands ready to intervene in markets if necessary.
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The Paris-based agency, in addition to its analysis and advisory roles, coordinates the release of emergency stocks held by its 31 mostly advanced-economy member nations.
A weekend attack by Hamas on Israel, and Israeli's military retaliation, have left thousands dead and rattled oil markets, amid fears that other nations might intervene and possibly disrupt shipments in the Middle East.
The region accounts for more than one-third of the world's seaborne oil shipments.
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