The review was needed anyway as there are four refineries still shut. But on the other hand, the market has reacted well to Katrina, with flexibility.

It can be extended without difficulty. It will be used when needed, if the market does not need it we will not weep.

The IEA member countries will exercise flexibility in re-establishing their emergency stock levels through 2006, noting the need to take into account seasonal demand and the possibility of higher than expected refinery maintenance.

We must change these outcomes and get the planet onto a sustainable energy path.

If any supply disruption occurs again we can make a speedy decision,

There is insufficient capacity there and there is a problem with conversion capacity.