Arab Today, arab today obama\s emergency oil reserve release plan under fire
Last Updated : GMT 08:55:55
Arab Today, arab today
Arab Today, arab today

Obama\'s emergency oil reserve release plan under fire

Arab Today, arab today

Arab Today, arab today Obama\'s emergency oil reserve release plan under fire

Houston - Arabstoday

US President Barack Obama faced stiff resistance to the possibility of releasing emergency oil reserves to damp down prices yesterday, with key Asian allies and the head of the West’s energy agency saying there was no cause for action. A day after Reuters reported that the White House was “dusting off” plans for potentially tapping the Strategic Petroleum Reserve (SPR), the executive director of the International Energy Agency, Maria van der Hoeven, was blunt in her assessment: “There is no reason for a release.” The IEA “bases our actions on data and reality. The market is sufficiently supplied,” she said after a speech in Houston. According to Reuters, she said she had not discussed a potential release with members of the Paris-based IEA, which is charged with coordinating use of the world’s government-held stocks. Key members of the IEA offered varied views, reflecting a divide between those who have tended to favor a more liberal use of the world’s government-held stocks as a means to influence prices, and aid economic growth, and those who believe they should be strictly reserved for supply emergencies. Prices for Brent crude tumbled below $ 113 a barrel on news the United States was considering a release from reserves, then erased some of those losses following van der Hoeven’s comments to trade down $ 1.47 at $ 113.80 a barrel by midday Friday in New York. While Britain and France appeared open to discussing the possibility of action, officials in Japan and South Korea said they saw no reason for a release from reserves. “It is not as if Japan is short of oil,” a Japanese government source told Reuters. “Stock releases are not done when the price is high but when supply is insufficient. Supplies are sufficient now.” From arabnews

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today obama\s emergency oil reserve release plan under fire Arab Today, arab today obama\s emergency oil reserve release plan under fire

 



Arab Today, arab today
Arab Today, arab today Heart of Turkish Riviera is Alluring Seaside Escape

GMT 11:11 2017 Tuesday ,28 March

Heart of Turkish Riviera is Alluring Seaside Escape
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Turkey says ends its military operation

GMT 07:53 2017 Thursday ,30 March

Turkey says ends its military operation
Arab Today, arab today Media host gives priority to problems of people

GMT 07:00 2017 Tuesday ,28 March

Media host gives priority to problems of people
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Disaster costs nearly double to $175bn

GMT 10:42 2017 Tuesday ,28 March

Disaster costs nearly double to $175bn
Arab Today, arab today Campaign fights sexual harassment in Egypt

GMT 11:14 2017 Tuesday ,28 March

Campaign fights sexual harassment in Egypt
Arab Today, arab today Trump moves to roll back Obama climate measures

GMT 08:39 2017 Wednesday ,29 March

Trump moves to roll back Obama climate measures
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Mercedes, VW recall million vehicles in China

GMT 09:16 2017 Wednesday ,29 March

Mercedes, VW recall million vehicles in China
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Trump poised to roll back climate protections

GMT 09:28 2017 Tuesday ,28 March

Trump poised to roll back climate protections

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 11:10 2017 Monday ,27 March

Trump to roll back Obama clean power plan

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 12:33 2017 Wednesday ,29 March

OptiBac Probiotics to launch new supplement

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday