The European Union will accelerate the release of oil reserves to stabilize the diesel market The European Union will try to stabilize the diesel market until winter by accelerating the release of 42.6 million barrels of oil from strategic reserves, about half of which will be diesel, said the European Commissioner for Energy, Dan Jorgensen, after the meeting of the Council of the European Union. According to him, the European Union countries are facing a difficult winter due to the high gas and oil prices caused by the situation in the Middle East. At the same time, no immediate threat of a shortage of energy sources in the European Union is expected. Jørgensen noted that EU countries can use subsidies to support consumers, but such measures must be targeted and temporary. The ministers see value in both measures to help deal with the crisis and to accelerate the transition from gas and oil to heat pumps, electric vehicles and other forms of electrification, he said.

The European Union will accelerate the release of oil reserves to stabilize the diesel market The European Union will try to stabilize the diesel market until winter by accelerating the release of 42.6 million barrels of oil from strategic reserves, about half of which will be diesel, said the European Commissioner for Energy, Dan Jorgensen, after the meeting of the Council of the European Union. According to him, the European Union countries are facing a difficult winter due to the high gas and oil prices caused by the situation in the Middle East. At the same time, no immediate threat of a shortage of energy sources in the European Union is expected. Jørgensen noted that EU countries can use subsidies to support consumers, but such measures must be targeted and temporary. The ministers see value in both measures to help deal with the crisis and to accelerate the transition from gas and oil to heat pumps, electric vehicles and other forms of electrification, he said.