The IEA is monitoring the potential implications for energy markets. The IEA noted this week that it 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,” the IEA said in a statement posted on its website prior to Russia’s latest escalation in a conflict with Ukraine . “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,” the IEA added in the statement. According to the IEA, most immediately at risk are the roughly 250,000 barrels per day of Russian oil exports transiting Ukraine via the southern branch of the Druzhba pipeline to supply Hungary, Slovakia and the Czech Republic. “These […]