The IEA is monitoring with growing concern Russia's recent statements and actions, and their potential implications for energy markets. The Agency is continuing its consultations with its Member Countries and key partners on appropriate measures to ensure energy security.
While the specific impact on world oil markets is yet to be determined, IEA Member Countries stand ready to act collectively to ensure that global oil markets are adequately supplied.
Most immediately at risk are the roughly 250 kb/d of Russian oil exports transiting Ukraine via the southern branch of the Druzhba pipeline to supply Hungary, Slovakia and the Czech Republic. These countries have ample government held emergency stocks to draw upon in case of need. The IEA will continue to monitor the market closely and assess the need for activating its emergency oil system.
