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France Released More than 10mn BBL Of Oil Stocks Amid Strikes

OIL

France has released more than 10mn bbl of oil from its strategic stockpiles as refinery and port workers continue to strike, according to a person familiar with the matter.

  • Strategic stockpiles have been released since the week of 6 March.
  • French authorities released 1.1m m3 of gasoline/diesel, 0.4m m3 of jet fuel and 0.15m m3 of crude, totalling 1.65m m3, or 10.4mn bbl, according to Bloomberg calculations.
  • France has been releasing strategic stockpiles, unblocking depots when needed and asking airlines to refuel planed in airports where there is no risk of shortages, Energy Transition Minister Agnes Pannier-Runacher said.
  • The fuel situations at French filling stations has been improving this week with around 11% of France’s filling stations lacking at least one type of fuel as of Wednesday evening, down from 15% on Tuesday.
Energy BulletsCommodities
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