The IEAs Executive Director: Oil Supply is Assured

(Paris) — 20 March 2003

Mr. Claude Mandil, the IEAs Executive Director, declared today:
"With the initiation of military operations in Iraq we are monitoring developments as they relate to the supply of oil to world markets. We are in close communication with our Member countries, with major oil producers and with OPEC. Producers are confident they can keep the market adequately supplied and we have been assured that they will make every effort to do so.
We appreciate steps producers have taken to prevent any shortage in world oil supply - earlier this year and again now. We are determined to promote stability in world oil markets and remain ready to reinforce producers efforts should the need arise."

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