BRUSSELS, 9th September, 2026 (WAM) — The European Commission has confirmed that the European Union faces no immediate oil supply problems, despite continued instability in the Middle East and sharp volatility in crude oil and petroleum product prices.
The Commission said following a meeting of the Oil Coordination Group, which brought together experts from the European Commission, EU Member States, industry, the International Energy Agency (IEA), the Energy Community and NATO, that supplies to the European market remain secure.
It noted that demand for jet fuel and diesel continues to be met through higher refinery production in EU countries, alongside alternative supplies from global markets.
However, the Commission warned that the situation in the Middle East remains unstable and that geopolitical uncertainty continues to drive significant volatility in crude oil and petroleum product prices, particularly those of jet fuel and diesel.
It added that developments in the Middle East conflict, combined with the usual rise in energy demand during autumn and winter, could put further pressure on crude oil and petroleum product markets in the coming weeks and months.
The European Commission affirmed that it would continue to assess the impact of developments in global markets on Europe and support coordinated action, when necessary, in cooperation with EU Member States, the IEA and market participants to maintain security of supply and respond to any potential disruptions.
Source: Emirates News Agency