By Catherine Boyle, Web Producer, CNBC.com
NEW YORK ( CNBC) -- The International Energy Agency is ready to release more oil onto the market if necessary, Nobuo Tanaka, Executive Director of the agency, told CNBC in a first on CNBC interview Friday morning. "We are ready to act at any time and if we have to we will continue," Tanaka said. He added that the watchdog "sometimes had to bite". On Thursday, the IEA announced the surprise release of 60 million barrels of oil from the strategic petroleum reserves of 28 nations. The statement sent shockwaves through global markets and sent oil prices down to around $91 per barrel, their lowest level since February.
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