The third vice-president of the Government and minister for Ecological Transition and the Demographic Challenge, Sara Aagesen, has announced at Europa Press's informative breakfasts that Spain will support the proposal of the International Energy Agency (IEA) to release strategic oil reserves. The initiative proposes the largest coordinated release of crude oil in history with the aim of stabilizing the international energy market.
According to Aagesen the proposal widely exceeds the 182 million barrels that were released during the war in Ukraine. The decision, which must be unanimously approved by the IEA member countries, is expected to be adopted in the coming hours.
In the case of Spain, the Government plans to release an amount equivalent to approximately 12 days of reserves strategic oil. Currently, the country's reserves cover around 92 days of supply, so the measure would not compromise national energy security.
The minister defended that Spanish participation responds to a principle of solidarity among the agency's member countries and seeks to contribute to reducing pressure on energy markets. Furthermore, she pointed out that this action can also help guarantee supply in countries facing greater energy difficulties. Aagesen considered that, given the international situation, it would be difficult for IEA member countries to oppose a measure aimed at stabilizing the market and ensuring supply.
