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Nationwide French Strikes Add to Fuel Woes

OIL PRODUCTS

French strikes have ratcheted up this week as other key sectors in France such as the transport and the public sectors join strikes that have been on-going in the energy sector for weeks and resulted in fuel shortages.

  • Around a third of French fuels stations are facing fuel shortages because of the refinery action.
  • The French government is trying to force some employees back to work at Exxon and TotalEnergies sites to try and alleviate some of the fuel tightness but other sectors joining in now adds further pressure on Macrons government.
  • The CGT union has called for continued walkouts into a fourth week at TotalEnergies, despite the oil company reaching a deal including a 7% increase and a bonus on Friday with other, more moderate, unions. The CGT is demanding a 10% pay increase, citing inflation and the firm's huge profits.
  • Strikes are also affecting work at 10 French nuclear power plants, with further maintenance delays at 13 reactors and French power production reduced by a total of 2.2 gigawatts.

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