Oil importing countries may announce oil purchases to support demand, IEA head tells Arabiya TV

Oil importing countries may announce crude oil purchases to support demand for the fuel, International Energy Agency Executive Director Fatih Birol told al-Arabiya TV on Thursday.

''We may hear tomorrow countries purchasing crude to build up their strategic (reserves) and support demand,'' he said, cited by al-Arabiya. ``We will see a recovery of demand in line with the resolution of this problem and the return of the global economy, but I don't expect a very quick recovery of oil prices,'' he added.