Bigger IEA Role Needed in Oil Market

The International Energy Agency needs to be more active in releasing crude oil from its stocks to help calm volatile oil markets, as the Organization of the Petroleum Exporting Countries is doing enough on its part to supply the market, a former OPEC president said Friday.

“IEA should bring their stockpiles to the market,” said Sadek Boussena, a former Algerian oil minister who served as OPEC President from 1990 to 1991, told Dow Jones Newswires.