The Commission takes stock of situation on oil markets amid developments in the Middle East
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In a meeting of the Oil Coordination Group held today, the Commission and EU countries discussed the security of oil supply situation in the EU in light of recent reports on ongoing negotiations in the Middle East.
The Oil Coordination Group noted reports that trade flows are slowly beginning to recover following the memorandum of understanding signed between the United States and Iran last week. However, the Group also noted that it will take time for supplies from the region to reach Europe
The Oil Coordination Group noted reports that trade flows are slowly beginning to recover following the memorandum of understanding signed between the United States and Iran last week. However, the Group also noted that it will take time for supplies from the region to reach Europe
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