SPR Release May Not Be Enough to Offset Libyan Loss of Oil

Link here (Forbes.com).

This is a most interesting story. Buried near the bottom of the story:

At the same time, rising hostilities between oil producer’s cartel OPEC and IEA, the west’s oil watchdog, have made the market nervous, according to Nomura.  While IEA announced they were releasing 60 million barrels of oil from strategic reserves (mainly from the U.S.) at a rate of 2 million barrels a day, “the market is now concerned if IEA can continue its release of strategic oil reserves to substitute the lost Libyan crude in the longer run.”

I posted the same thing some days ago, questioning whether if the release will even be adequate if hostilities in Libya continue into the autumn.