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IEA says OPEC has ample spare oil capacity

Posted on 25 February 2011

From Reuters: The International Energy Agency called again on OPEC to draw on excess oil production capacity if required amid worries among oil consuming nations that unrest in oil-rich Libya could disrupt global energy supply.
“The (IEA) governing board takes note of the reports regarding their (OPEC’s) willingness to draw on their excess capacity to ensure additional supplies if required,” the IEA said in a statement on Thursday………………………………………..Full Article: Source


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