Free Trial

France Turns to Strategic Oil Product Reserves Amongst Refinery Woes

OIL PRODUCTS

France has turned to strategic fuel reserves this week to help cover the shortfall of oil products in the country caused by more than 60% of the country’s refining capacity being offline.

  • A walkout by CGT trade union members at TotalEnergies has disrupted operations at two refineries and two storage facilities, while two Exxon Mobil refineries have faced similar problems since Sept. 20.
  • French officials claim the country has enough oil product supplies but that products are regionally displaced leading to pump shortages. Filling stations in impacted areas are running at higher prices whilst the use of portable containers has been banned.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.