The Director of the International Energy Agency stated that they are ready to utilize global oil reserves if necessary.

Fatih Birol, the Director of the International Energy Agency, expressed during an event at the Atlantic Council that he hopes there will be no need to release oil reserves, but "if energy shocks caused by a war with Iran require it, we are ready to take action."

Birol reiterated that this war has led to the most severe global energy disruption in history, and noted that during the US-Israeli war with Iran, over 80 oil and gas facilities have been damaged, including production sites, terminals, and refineries.

In simpler terms, if necessary, the IEA will continue to release strategic reserves of oil to lower prices.

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