Decision to release emergency stocks of oil in Sweden
The Swedish government has decided to carry out a release of the Swedish emergency stocks of oil. The release is part of the joint collective action decided by the member countries of the International Energy Agency (IEA) on the 1st of March 2022.
Sweden has agreed to release its share of the IEA-countries total contribution of 60 million barrels of emergency stocks to be placed on the market. The purpose is to prevent possible supply shortages because of Russia's war against Ukraine.
A release of the emergency stocks means that the obligated stockholding companies have a reduced stock obligation during a limited period. In this emergency stock release, stocks of oil and other fuel will be offered to the market.
Sweden's emergency stocks hold large volumes and exceed the obligation of at least 90-day net imports required by the IEA and the European Commission. After the stock release is completed, Sweden's emergency stocks on fuels will still exceed 90 days.