The US Government and the International Energy Agency have announced
releases of emergency stockpile rations in the wake of Hurricane
Katrina last week.
In a press release, the IEA said IEA countries, plus the EU Commission unanimously
supported the measure to make available to the market the equivalent of
2 million barrels per day (2 mb/d) of oil for an initial period of 30
days. Half of the oil will come from the US Strategic Petroleum
Reserve. An estimated 1.5 million barrels per day of oil production and
2.0 million barrels per day of refining capacity has been lost as a
result of damage from the hurricane.
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