Day 2 Emergency Response Policy - International Energy Agency
Day 2 Emergency Response Policy - International Energy Agency
Day 2 Emergency Response Policy - International Energy Agency
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
8<br />
Key Elements of IEA <strong>Response</strong><br />
Continuous assessment of oil market<br />
• Monthly Oil Market Report (OMR)<br />
• Size of disruption; OPEC spare capacity ; stocks in OECD<br />
• Necessity of IEA action, impact on market<br />
Rapid decision making framework<br />
• Need for fast, decisive response, market reaction immediate<br />
• Delayed, weak or uncoordinated response can cause market confusion<br />
and exacerbate the problem<br />
Flexibility in response measures<br />
• Stocks are key, but other measures possible<br />
• Make oil available to the market, not directing – market allocates oil<br />
Communication<br />
• Dialogue with Members, key NMCs and OPEC<br />
• Media strategy to deal with markets<br />
© OECD/IEA 2013
Change language