EU countries can use their oil and gas reserves, although there is no energy shortage within the community. This was stated by Anna-Kaisa Itkonen, a spokeswoman for the European Commission (EC).
„We do not currently foresee oil and gas shortages in EU countries. However, we are ready to take all necessary measures in cooperation with members of the International Energy Agency and to take into account regional and national circumstances, as well as the security situation“, she said at an EC briefing.
Itkonen added that the Energy Crisis Group meeting will be held on March 12 to discuss a recommendation on the use of reserves. She noted that each country is free to make this decision independently.
Earlier, The Wall Street Journal reported that The International Energy Agency has proposed releasing the largest volume of oil reserves in its history to stabilize the market amid the conflict in the Middle East. According to the report, the agency, founded in 1974, has proposed a release exceeding the 182 million barrels it released in 2022. A decision on this issue is expected on Wednesday. For the proposal to be approved, the publication notes, none of the 32 member countries must object.