Poland develops schedule for oil and fuel reserve release

Poland is currently developing a schedule to release its oil and fuel reserves, following a G7 decision to coordinate with the International Energy Agency (IEA). Energy Minister Miłosz Motyka stated that Poland aims to finalize this schedule by the end of November. The country has requested a separate timeline due to its specific situation and the risks associated with fuel supplies to Ukraine.

The G7 decision involves the release of 100 million barrels of oil, diesel, and other fuels over the next four months to help lower diesel prices. This follows a similar operation in March where 400 million barrels were released.

Separately, the Government Strategic Reserves Agency (RARS) has noted a long-term shortage of storage capacity for intervention stocks of diesel and gasoline in Poland. While Poland has maintained relatively high storage capacity compared to other nations and has functioned as a fuel hub for Ukraine, RARS warns that Europe's dependence on imported finished petroleum products increases vulnerability to supply disruptions, such as those stemming from tensions in the Strait of Hormuz.