Contributions of IEA Member Countries to the Hurricane Katrina Oil Supply Disruption

(Paris) — 7 September 2005

IEA Executive Director Claude Mandil announced today the initial composition of the IEAs collective action to make available crude oil and products in response to supply disruptions caused by Hurricane Katrina. In an act of solidarity, all 26 IEA member countries, in cooperation with the EU, agreed on 2nd September to offer an additional 60 million barrels to the market over 30 days. The breakdown of their contribution is now available:

Member countries will make this additional oil available to the market, allowing market mechanisms to provide the most efficient method of directing the oil where it is needed. The IEA response can be adapted to changing market needs by adjusting the duration or quantity of oil.

See tables and graphs

The IEA’s Governing Board will convene on the 15th of September to assess the oil market and review the impact of the coordinated action.


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