Fatih Birol, executive director of the International Energy Agency, said that the current release of oil reserves in a new round is not the agency's top issue; he said that if the energy crisis worsens further and lasts longer, it may be necessary to take this step. Birol said that of the 400 million barrels of reserves announced to be released in March this year, one-third has yet to be put on the market. Birol told reporters at the EU energy ministers meeting in Dublin that about 80% of the total reserves are still available for use. “We stand ready to act to meet current and future market challenges if relevant needs exist and member states reach consensus,” he said.

Fatih Birol, executive director of the International Energy Agency, said that the current release of oil reserves in a new round is not the agency's top issue; he said that if the energy crisis worsens further and lasts longer, it may be necessary to take this step. Birol said that of the 400 million barrels of reserves announced to be released in March this year, one-third has yet to be put on the market. Birol told reporters at the EU energy ministers meeting in Dublin that about 80% of the total reserves are still available for use. “We stand ready to act to meet current and future market challenges if relevant needs exist and member states reach consensus,” he said.