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Spain Won't Restock Oil Product Supplies in 2022

OIL PRODUCTS

Spain will not restock gasoline, middle distillates and fuel oil supplies before the end of 2022 according to the Environmental Transition Ministry.

  • Spain released 6mbbl of stocks as part of IEA coordinated release, equivalent to 7.8 days of consumption, a spokesperson said
  • Spain’s inventory release was 4.55mbbl of gasoil/diesel and 1.45mbbl of other oil products according to IEA data earlier this year
  • “Their gradual replacement will be carried out in accordance with the recommendations of the IEA and the European Commission, not before the end of 2022, and will depend in any case on the evolution of the market”

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