Baku, Azerbaijan, Aug. 29
By Leman Zeynalova – Trend:
The International Energy Agency (IEA) is monitoring the situation caused by Hurricane Harvey very closely and is in contact with authorities in the United States.
“It is too soon to know how long oil production and refining operations will be disrupted, or the extent of the damage. However, for now, the IEA does not see a need to act as the market is amply supplied. Oil stocks, both crude and products, are well above the five-year average, in the United States as well as globally,” said the message posted on IEA’s website.
The situation is being reviewed constantly and the IEA stands ready to act as required, according to the message.
Hurricane Harvey has caused a catastrophic flood in Houston, forcing about 2,000 people to flee. State of emergency has been declared in the city, where transportation is practically paralyzed.
US President Donald Trump will visit hurricane-ravaged Texas on Aug. 29, the White House announced Sunday afternoon.
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