EU Maintains 90-Day Oil Stockpile Mandate, Shifts Reserve Composition
The European Commission maintains its 90-day emergency oil stockpile requirement for member states but will change the composition of those reserves, according to a consultation note and market sources. The mandate obliges countries to hold stocks equivalent to 90 days of net imports or 61 days of consumption, whichever is higher, with one-third designated for oil products.
A review triggered by a Middle East conflict found the commission’s framework exposed operational failures and a dependence on jet fuel imports. Political and fiscal constraints are expected to limit legislative changes, with the Netherlands opposing a higher mandate. The commission consulted experts earlier this month and will propose amendments later this year.
From the sources (2 posts)
@staunovoAn EU review of its oil stockpiling policy is unlikely to increase the quantity of emergency reserves its members are obliged to maintain, but may change their composition, according to a consultation note and sources privy to the discussio
@spgenergyoilEU oil stocks reform unlikely to revise 90-day storage target: sources ▪️EU reviews oil stocks directive to address 'failures' ▪️Netherlands rejects support for higher mandate ▪️Focus on energy transition, stock composition for new policy