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IEA rules out second oil withdrawal
The International Energy Agency confirmed that it is not currently considering a second drawdown of emergency oil reserves, after releasing 400 million barrels last March. Approximately 80% of those reserves remain available. The agency also expressed concern about gas stock levels in Europe, which stand at around 62%, below historical averages. There are expectations of challenges during winter if the conditions are harsh. European countries are working to increase their gas inventories to 80% by December and are seeking to secure gas from the Middle East after committing to end imports of Russian gas.
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