IEA: Oil market tighter than it seems despite forecast surplus
The global oil market may be tighter than headline supply-demand figures suggest, the International Energy Agency (IEA) said Friday, citing rising ref...
European Union member states have asked the European Commission to keep secret their national strategies for phasing out Russian oil and gas by the end of 2027.
The Commission’s proposal, introduced last month, requires countries to submit detailed plans outlining how they intend to reduce dependence on Russian energy.
These plans would include measures to cut demand, increase renewable energy production, secure alternative suppliers, and identify any regulatory or technical barriers. However, EU governments are now pushing to classify these documents under 'professional secrecy,' meaning they cannot be disclosed without the country’s consent.
According to the draft, prepared by Denmark — which currently holds the rotating EU presidency — this confidentiality would prevent potentially market-sensitive information from influencing gas prices or revealing national sourcing strategies.
While member states would still be required to submit the plans to Brussels, they want the contents shielded from public or intergovernmental view. The European Commission has yet to clarify whether it intends to uphold such secrecy.
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The global oil market may be tighter than headline supply-demand figures suggest, the International Energy Agency (IEA) said Friday, citing rising refinery activity and seasonal summer demand as key drivers of short-term market pressure.
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