European Commission: concern over energy prices

European Union member states have sufficient oil and gas reserves despite supply disruptions caused by the war in the Middle East, the European Commission said on Monday.

‘We are much less concerned about security of supply than we are about high energy prices,’ European Commission spokeswoman Anna-Kaisa Itkonen told reporters in Brussels.

According to her, EU members hold oil or oil-equivalent reserves for up to 90 days and there are no signs of an emergency.

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

(reuters, max)