Hungary's MoL initiates the release of strategic crude oil reserves to maintain security of supply in the region
Importance
Level 1
- No oil delivered via Druzhba pipeline since Jan 27th.
- Began supplying its refineries with seaborne crude oil to make up for the shortfall.
- If shipments from the East do not resume in coming days, Hungary may need to release c. 250k T of strategic crude oil in the first round.
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