Data extracted 18 October 2023
Planned article update: November 2026
Highlights
Emergency oil stocks in the EU are at a lower level than they were before the Russian invasion of Ukraine.
This article presents data on emergency and commercial oil stocks in the European Union (EU). Crude oil and petroleum products play a very important role in the economy of the European Union and, given the oil import dependency of the EU, holding emergency oil stocks is very important for the energy security of the EU. Commercial stocks can also be fundamental in times of need and therefore are included in the assessment of the overall stock holding situation. Given the current geopolitical instability, holding stocks becomes even more crucial.
Emergency oil stocks statistics
Crude oil and petroleum products play a very important role in the economy of the European Union, particularly in the transport sector and the petrochemical industry. Given their important role and the oil import dependency of the EU, holding emergency oil stocks is very important for the energy security of the Union. To guarantee these stocks, the relevant EU law, Council Directive 2009/119/EC imposes an obligation on Member States to maintain minimum emergency stocks of crude oil and petroleum products. Member States are required, at all times, to maintain oil stocks equivalent to at least 90 days of average daily net imports or 61 days of average daily inland consumption, whichever of the two quantities is greater. In the current geopolitical situation, marked by ongoing Russian aggression in Ukraine and instability in the Middle East, these requirements continue to play a major role in stabilising the market as they did during previous lesser severe crises.
The EU emergency oil stocks
Table 1 presents the emergency oil stocks of each EU country as well as of the European Union. In May 2025, the EU held 108.6 million tonnes of emergency oil stocks, an increase of +7.3% from June 2022, which recorded a historical low of 101.1 million tonnes. However, the difference between May 2024 and May 2025 is minimal, with slight decrease of -1.7 %.
The current levels are mostly composed of crude oil (43.5 million tonnes in the EU), followed by gas/diesel oil (39.0 million tonnes) and gasoline (10.4 million tonnes). The composition of the emergency stocks by fuels is selected by each country and must adhere to its specific needs; therefore, it varies as seen in the table below.
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Up until June 2022, the minimum stock level for compliance in all EU countries was 86.3 million tonnes, which was subsequently raised to 90.3 million tonnes in July 2022. EU countries are obliged to replenish the stocks to the minimum required levels and cooperate with the European Commission to determine a reasonable time frame, taking into account the situation in the domestic and international oil and petroleum products markets.
Source: Eurostat (nrg_stk_oilm)
Emergency oil stocks in days equivalent
Stocks requirements are expressed in 'days equivalent' as EU countries must maintain, at all times, oil stocks amounting to at least 90 days of average daily net imports or 61 days of average daily inland consumption, depending on which of the 2 quantities is greater. The 90 days net imports method generally applies to EU countries who are heavily import dependent. The 61 days inland consumption method normally applies to EU countries that produce crude oil and oil shale and for which domestic production contributes mostly to their security of supply. The inland consumption method can also apply to EU countries with very significant petrochemical industry, such as the Netherlands.
The reference method for requirements are subject to change in July of each year when the obligations are recalculated based on the production and import/export data from the preceding year. In July 2024, Malta's obligations shifted from being based on 61 days of domestic consumption to 90 days of net imports.
Table 2 presents the emergency oil stocks in days equivalent, according to the methods applied for the obligations. In January 2024, 23 EU countries kept oil stocks based on net imports and 3 were below the 90 days requirement. Four EU countries kept stocks based on inland consumption and all of them were above the required 61 days.
In October 2024 the number of EU countries falling below the requirements increased to 5. Starting in October 2024, countries began steadily increasing their stock levels. By May 2025, only 3 countries still remained below the required level.
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Emergency oil stocks held abroad
EU countries can hold their emergency oil stocks in their own territory or in other EU countries. In May 2025, 12% of emergency stocks in the EU were held in other EU countries. National procedures differ very much in this regard. Six EU countries kept all their emergency stocks in their territory: Czechia, Hungary, Austria, Poland, Slovakia and Greece while 21 EU countries held part of their emergency stocks in the territories of other EU countries. The country with the largest share of oil stocks held abroad was Malta (93.6%), followed by Luxembourg (87.6%) and Belgium (50.3%). Data can be seen here: Eurostat (nrg_stk_oem).
Commercial stocks
According to the Directive, countries must also report most of their commercial stocks. Specifically, they must report those stocks held by economic operators in the national territory for their own operational and commercial needs, which therefore can be considered available, in addition to the emergency stocks, in case of need.
However, while emergency stocks, outside critical events, are normally quite stable as they reflect obligations that are calculated on an annual basis, commercial stocks in the territory may fluctuate according to market trends.
In August 2020 commercial oil stocks reached a historic high of 63.2 million tonnes, with some countries even reaching their maximum storage capacity limits. Subsequently, as economic activities resumed, commercial stock levels began to decline and reached a low point in December 2021, totalling 44.8 million tonnes. Starting in January 2022, efforts to replenish commercial stocks commenced. However, the situation shifted once again due to the Russian invasion of Ukraine. The market encountered significant instability, causing fluctuations in commercial stocks, which were 52.6 million tonnes in May 2024 and hit a low at 45.7 tonnes in May 2025. During May 2025, commercial stocks accounted for 31% of the total stocks reported under the Directive.
These values are intrinsically volatile, as they are influenced by many factors such as spot prices, geopolitical situations, OPEC+ decisions, policy announcements, and refineries' choices.
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In May 2025, the EU countries with the largest quantity of commercial stocks were the Netherlands (9.50), Germany (9.3 million tonnes) and Italy (5.6), followed by France (3.6) and Poland (3.1). The proportion between commercial stocks and total stocks was highest in Netherlands (68.3%), Hungary (59.4%), Croatia (55.2%) and Sweden (55.2%), followed by Slovakia (49.6%). Figure 3 shows both emergency and commercial stock levels in the different EU countries.
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Source data for tables and graphs
Data sources
Data on energy are submitted on the basis of internationally agreed methodology. Data are available for all EU countries and the methodology is harmonised for all reporting countries. Consequently, data comparability across countries is very high. All energy data are available in the online database.
NOTE: Some data are provisional: Please refer to the 'p' flags in the database for further details.
NOTE: Quantities of emergency stocks held in accordance with the Directive listed as "Stocks – EU Emergency" in table (nrg_stk_oilm) refers to actual quantities in 1 000 tonnes. Such quantities are reassessed using weights (multipliers) to determine their value in "days equivalent" which are reported in table (nrg_stk_oem). Yearly imports and consumption values declared by reporting countries are also reassessed using weights (multipliers) to calculate requirement levels defined as "minimum stock level for compliance" in table (nrg_stk_oem). This can create some apparent discrepancies when comparing values in (nrg_stk_oilm), (nrg_stk_oem). Council Directive 2009/119/EC details the provisions regarding these weights.
Context
Crude oil and petroleum products play a very important role in the economy and import dependency is a very crucial element of economic stability, political autonomy and energy security. Holding emergency oil stocks is therefore very important in time of crises. The assessment of the overall stock holding situation is consequently a fundamental task. Requirements and obligations for the EU Member States are outlined in the Council Directive 2009/119/EC of 14 September 2009 imposing an obligation on Member States to maintain minimum stocks of crude oil and/or petroleum products and in the Commission Implementing Directive (EU) 2018/1581 of 19 October 2018 amending Council Directive 2009/119/EC as regards the methods for calculating stockholding obligations.