Portugal has already released oil reserves under a commitment made in March

Portugal has fully released its strategic oil reserves as part of a commitment made in March. The Ministry of Environment and Energy confirmed that no new reserves will be released. This decision aligns with a broader EU initiative involving 12 countries to release 42.6 million barrels of oil, primarily diesel, by January 2027. The aim is to stabilize diesel markets ahead of winter. Despite rising energy prices due to geopolitical tensions, the Portuguese oil companies association does not foresee immediate supply risks. The EU remains vigilant regarding the crisis's impact on household budgets but currently sees no supply security concerns.