Sweden contributes to the IEA’s coordinated emergency oil stock release

The situation in the Middle East remains uncertain, while parts of the international fuel markets continue to face pressure. To support market stability and strengthen security of supply, the IEA has called on member countries to implement the coordinated stock release agreed earlier this year. Sweden is now making its contribution as part of this joint international effort.

Additional volumes made available to the market

In Sweden, a stock release means that the obligation to hold emergency oil stocks is temporarily reduced by an agreed volume. For Sweden, this corresponds to approximately two million barrels of diesel and petrol, allowing these volumes to be made available to the market.

"When uncertainty increases in international energy markets, it is important for countries to work together. Sweden's stock release is being carried out in line with our international commitments and contributes to a joint effort to strengthen security of supply in fuel markets," says Caroline Asserup, Director General of the Swedish Energy Agency.

No fuel shortage in Sweden

The stock release is not being undertaken due to a fuel shortage in Sweden. Supply conditions remain stable, and Sweden has significant domestic production of both diesel and petrol. Sweden is also a net exporter of these fuels.

"The volumes covered by the stock release represent a limited share of Sweden's total emergency oil stocks. Our assessment is therefore that the release can be carried out without negatively affecting Sweden's security of supply. Rather, the measure is Sweden's contribution to an internationally coordinated effort at a time when solidarity and cooperation are needed," says Ella Kilim, Head of Energy Preparedness at the Swedish Energy Agency.

Facts