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EU Commission: Oil and Gas Supplies Remain Stable

Published March 13, 2026, 12:14
EU Commission: Oil and Gas Supplies Remain Stable

The European Commission assures that there are currently no risks to the EU's security of supply for natural gas and oil, following an assessment of the situation in cooperation with member states, amid ongoing disruptions in the Middle East. Member states confirmed that no supply problems are being observed, while oil reserves and natural gas storage levels remain stable. EU countries agreed that the existing regulatory framework provides sufficient flexibility to manage the situation and that natural gas storage should not be replenished at all costs. The Oil Coordination Group welcomed the voluntary nature and flexibility of the release of 400 million barrels of oil by the International Energy Agency. The Commission will continue to closely monitor the situation and maintain regular communication with member states and market participants. In the event of a prolonged closure of the Strait of Hormuz or further disruptions, the EU's security of supply will be reassessed. The next meetings of the Oil and Natural Gas Coordination Groups are scheduled for March 19 and 26, respectively.