EU prepares coordinated response to address the jet fuel supply situation as the conflict in the Middle East persists

Today's Oil Coordination Group meeting gathered experts from the European Commission, EU countries, and the Energy Community secretariat to discuss the oil security of supply situation in Europe and how to best coordinate at EU level as the Middle East conflict continues.

While there are no shortages of fuel in the EU at present, regional supply constraints could arise in the next weeks if the blockage of oil supplies via the Strait of Hormuz does not get resolved. The Group discussed the EU's coordinated approach in case the situation continues beyond the end of May. While EU emergency stocks can be released if needed, experts underlined the importance of coordinating such releases at EU level and of matching them with adequate demand-side measures to achieve effective results.  EU policy coordination between the energy and transport areas, as well as the guidance to airline operators clarifying regulatory flexibilities on slots and fuel types expected to be published tomorrow can support such measures.

The Oil Coordination Group will continue to convene on a regular and frequent basis to ensure a coordinated response to any developments regarding jet fuels supplies in the EU. The Commission will continue to assess the overall impact of the situation in the Middle East in Europe, support coordinated action as needed, and maintain regular communication with EU countries, the IEA and market participants.