BBM Refuses to Meaningfully Address Oil Price Shocks

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Today, Thursday, Belgium announced its refusal to use its strategic oil reserves at the present time to halt the rise in fuel prices, stressing that such stocks would only be used in the event of actual shortages or a direct threat to supply security.

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Key takeaways Belgium has decided not to release its strategic oil reserves to reduce fuel costs, thereby deviating from the approach of several other European countries. The federal government plans to leave the emergency reserves untouched as long as the supply chain functions. Safety over price control As reported by De Tijd, the primary goal is […]

De Tijd

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While most European member states released strategic oil reserves in recent months to temper sky-high prices at the pump, Belgium kept its emergency reserves to itself for the time being. ‘We will only use them if shortages threaten.’