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In the context of market instability caused by the Middle East crisis and the shutdown of the Strait of Hormuz, the Commissioner urged EU Member States to work together to guarantee the supply of oil and petroleum products, as shared on social media.
He added that although our supplies are currently secure, the Union needs to be ready for a possible extended period of disruption in international energy trade.
According to Jorgensen, being prepared is essential and working together is vital.
Jorgensen called for coordinated action by the European Union, emphasizing the importance of sharing information, monitoring potential risks, avoiding policies that could distort the market, delaying non-essential maintenance at refineries, and encouraging conservation efforts on the demand side along with the increased use of biofuels to help reduce the overall load.
source: ec.europa.eu
He added that although our supplies are currently secure, the Union needs to be ready for a possible extended period of disruption in international energy trade.
According to Jorgensen, being prepared is essential and working together is vital.
Jorgensen called for coordinated action by the European Union, emphasizing the importance of sharing information, monitoring potential risks, avoiding policies that could distort the market, delaying non-essential maintenance at refineries, and encouraging conservation efforts on the demand side along with the increased use of biofuels to help reduce the overall load.
source: ec.europa.eu