Oil available under the plan will amount to 59.83 million barrels, down 784,000 barrels from an earlier estimate, said the IEA, an adviser to 28 industrialized countries, in a statement on its website.

The reduction follows “restrained” demand for a sale by Germany, Europe’s biggest oil consumer, of stored oil and slightly higher than expected crude sales by the US in its largest-ever auction of emergency supplies.

Oil prices fell to around $115 on Monday on concerns of slowing demand. Analysts at JBC Energy said the tweaked IEA numbers did not alter their view that not all of the total amount would be released onto the market.

“There’s what they say will be released and what they actually release. We expect of the total only about 50-60 percent to come out, and not much of that will be from Europe,” said David Wech, an analyst at JBC.

The IEA trimmed the amount coming from Europe, which is expected to provide 17.81 million barrels, down from 19.24 million previously, and said the crude oil proportion would be slightly less than earlier thought.

More than half of the release is coming from the US, which sold 30.6 million barrels of crude from the Strategic Petroleum Reserve (SPR), more than the 30 million barrels the IEA expected.

In Germany, the government sold off 63 percent of a total of 4.2 million barrels that were offered to the local market in tenders. It is unlikely to try to sell the rest, industry sources said recently.

In what could also indicate limited immediate demand, France has extended the period in which stocks could be released by three months through to December.

Some European countries, such as the UK, have opted to lower minimum stock requirements instead of offering the crude and products to the market via a tender.

Traders say the lack of a sale tender by every IEA member has reduced the impact of the release on prices. Oil prices, at around $115 a barrel on Monday, are higher than they were on June 23, when the IEA announced the move to make 60 million barrels available.

The agency says its plan is working. IEA officials said last week they hoped a sizeable part of the oil would be taken up and that the move was adding to supplies of high-quality crude, which had been reduced by the Libyan conflict.

The stocks release is only the third in the IEA’s history. Its last such move was in 2005 in the wake of Hurricane Katrina’s disruption to US supplies.