The European Commission has urged EU countries to prepare for possible disruption to oil and fuel supplies after volatility linked to conflict in the Middle East and the closure of the Strait of Hormuz.
EU member states are required to maintain emergency oil stocks and have contingency plans for supply incidents, the Commission stressed in a statement on Tuesday.
EU countries are also contributing about 20% to the release of more than 400 million barrels of emergency oil stocks coordinated by the International Energy Agency (IEA), it added.
“The European Union’s security of supply remains guaranteed,” Energy and Housing Commissioner Dan Jørgensen said, while calling for coordinated preparations in case of a prolonged disruption to international energy trade.
In a letter to EU energy ministers, Jørgensen urged countries to improve coordination and consider voluntary fuel-saving measures, with particular attention to transport, as advised in the IEA’s “10-point plan” — a set of measures intended to reduce oil use.
Calls for monitoring and avoiding measures that raise demand
Governments were also asked to strengthen monitoring and rapid information-sharing on any emergency risks or material changes in oil supply and industry conditions, including commercial stock levels, the Commission said.
EU countries should avoid steps that increase fuel consumption, restrict the free movement of petroleum products, or discourage refinery output, and should consult neighbouring member states and the Commission to preserve internal market functioning.
Non-emergency refinery maintenance should be deferred to safeguard petroleum product availability, while increased uptake of biofuels was cited as a way to substitute for fossil-based petroleum products, according to the statement.
