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To: JSB who wrote (101858)	6/23/2011 9:18:23 AM
From: CommanderCricket	Read Replies (1) of 118717

The Saudi's don't have the supply to cover Libya. Gee, wonder what would happen if the US economy was growing right now. IEA Will Release 60 Million Barrels Reported on CNBC DJ IEA Calls "Urgent" Press Conference In Paris For 1300 GMT DJ IEA Calls "Urgent" Press Conference In Paris For 1300 GMT LONDON, Jun 23, 2011 (Dow Jones Commodities News Select via Comtex) -- The International Energy Agency, which represents major energy consuming countries, said Thursday its Executive Director Nobuo Tanaka will hold an unexpected and "urgent" press conference in Paris at 1300 GMT. A spokesman for the IEA declined to comment on the reason for the conference. Analysts have recently been speculating that the IEA could be preparing to take action to reduce the oil price by coordinating the release of publicly-held oil stocks held by its member countries in case of emergency shortages. The continued shut down of around 1.5 million barrels a day of oil supplies by the Libyan civil war continues to cause problems for the oil markets, although have been falling in recent days following weak economic data and the promise from Saudi Arabia to increase its crude production by around 1 million barrels a day. -By James Herron and Geraldine Amiel, Dow Jones Newswires; +44 (0)20 7842 9317; james.herron@dowjones.com (END) Dow Jones Newswires 06-23-11 0827ET

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