EU has enough oil and gas, but prices are a concern, spokesperson says

EU member states have sufficient stocks of oil and gas despite the disrupted supply chains due to the war in the Middle East, the EU Commission said on Monday.

“We are far less concerned about the security of supply than we are of the high energy prices,” EU Commission spokesperson Anna-Kaisa Itkonen told reporters in Brussels.

She said EU members had stocks of oil or equivalents to last up to 90 days, and that there was no sign of any emergency situation.

Itkonen confirmed G7 countries would discuss the possible release of strategic reserves at a meeting later on Monday.