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The European Commission is in high-level talks with the US administration about the global oil market and possible emergency oil stock releases, Commission spokesperson Anna-Kaisa Itkonen said Thursday.
Speaking to reporters in Brussels, Itkonen said the Commission was in close contact with EU member states and that “lots of phone calls” and meetings were taking place, according to her remarks.
IEA meeting to discuss possible stock release
The Commission is coordinating member states’ positions ahead of a meeting of the International Energy Agency’s Governing Board on Friday. A coordinated release of emergency oil stocks could be discussed.
Itkonen said the Commission’s role was to coordinate EU countries’ positions at the IEA, not to decide on an international stock release.
Commission says there is no immediate supply shortage
Itkonen described the current situation as a “global energy price crisis” rather than an energy supply crisis. She said the European Union had no concrete shortage of diesel or gas at present.
Energy price pressures are a global concern, particularly in oil markets, which are less regulated and inherently global, she said.
