Oil Coordination Group: Diesel and jet fuel supplies remain ‘tight’ but no shortage in Europe

In view of the continued global geopolitical uncertainty affecting oil markets, the Oil Cordination Group confirmed at a meeting on October 21 that diesel and jet supplies remain tight, according to an October 22 statement by the European Commission’s directorate-general for energy.

The meeting involved experts from the European Commission, EU countries, the International Energy Agency (IEA) and the Energy Community, gathering as the Oil Coordination Group.

While there is currently no physical shortage of these products in Europe, the Commission will keep monitoring the situation very closely, in cooperation with EU countries and IEA in light of the risk of further disruptions, it said.

Following the conclusions of the European Council meeting of October 15-16, the Commission updated the Group on the launch of the strategic dialogue with EU refineries. This dialogue, to be chaired by Commissioners Dan Jørgensen and Andrius Kubilius, will take place soon, the directorate-general said.

The IEA Secretariat debriefed the Group on the outcome of the Governing Board meeting of October 15 as regards the timely release of the volumes remaining under the March 2026 Collective Action.

The Commission will continue to assess the overall impact of the global situation on Europe, support coordinated action where needed, and maintain regular communication with EU countries, the IEA and market participants, the statement said.

(Photo: Julian Herzog, via Wikimedia Commons)