IEA ready to act in oil market if needed: Birol

The International Energy Agency (IEA) is in contact with officials in Saudi Arabia and other Middle East states, and is ready to act in the oil market if needed, the IEA's executive director said on Wednesday.

"We are living in a dangerous world. Energy is at the cross roads of geopolitics of many countries, and especially so in the Middle East," Fatih Birol said at a conference in Poland.

He said the IEA saw 2019 oil demand increasing by 1.1 million barrels per day, but said the forecast could be revised.