EU to convene oil, gas supply groups after Iran war lifts prices
The European Union will hold meetings of its oil and gas supply coordination groups on Thursday after the Iran war pushed oil prices above $100 per barrel, a European Commission spokesperson said on Monday.
The groups will assess the impact of the Middle East conflict on energy markets and review member states’ oil supply levels. EU countries are required to maintain oil stocks equivalent to at least 90 days of consumption.
The coordination groups bring together EU government representatives to monitor supply security and coordinate response measures during energy crises.
