Canada and Mexico have ample breathing space in IEA
IEA member rules include an obligation to have oil-stock levels at a certain point, however there seem to be loopholes
Under International Energy Agency (IEA) rules, each member country has an obligation to have oil-stock levels that equate to 90 days of net imports. But the rule only applies to net oil importers. So IEA member Canada, a net exporter, does not have a stockholding obligation under the agreement. Though it is a member of the North American Free Trade Agreement (NAFTA), Mexico is not an IEA member and has no requirement to withhold stocks. So the US, with its 727 million barrel Strategic Petroleum Reserve is not only the largest cache of government-oil stocks in the world, but also the only one of its kind in North America. The IEA minimum obligation is based on net imports of all oil, includin
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