The head of the International Energy Agency says they are ready to tap into global oil reserves if needed. Fatih Birol, the Executive Director of the International Energy Agency (IEA), stated during an event at the Atlantic Council that he hopes there won’t be a need to release more oil reserves, but 'if an energy shock caused by a war with Iran requires it, we are ready to take action.' Birol reiterated that this war has caused the most severe global energy disruption in history and mentioned that during the U.S.-Israel war with Iran, over 80 oil and gas facilities have been damaged, including production sites, terminals, and refineries. In plain terms, if necessary, the IEA will continue to release strategic oil reserves to bring down oil prices.