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Switzerland Taps Strategic Reserves Again

OIL PRODUCTS

Switzerland taps more oil from its strategic reserves – its second in recent months.

  • 12.8 percent of the total compulsory stock can be obtained by the end of September 2022 according to the Federal Office for National Economic Supply (FONES).
  • This measure applies from August 22 to September 30, 2022.
  • The FONES can decide on its own authority to fall below this limit by up to 20 percent.
  • Switzerland has suffered from a reduction in oil product deliveries inland because of the low Rhine levels.
  • The FONES has decided to temporarily fall short of the mandatory mineral oil stocks by the end of September 2022 by 490,000 m3.
  • This step is in addition to the first approved fall below the compulsory stock level of 6.5 percent, which has been in effect since July 25, 2022.
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