The EU imports 95% of its crude oil, Germany has the bloc's largest reserves

The EU buys 95% of its crude oil from abroad, which remains its most important source of energy.

EU member states are required to maintain oil reserves that correspond to the greater of either 90 days of imports or 61 days of domestic consumption.

Germany has significant reserves of oil and petroleum products, amounting to approximately 110 million barrels of oil and 67 million barrels of petroleum products.

MOSCOW, September 16 - RIA Novosti. The European Union purchases 95% of crude oil from abroad, which remains its most important source of energy, according to the Roscongress report “Margin of Safety: Oil Reserves as a Market and Anti-Crisis Mechanism,” which RIA Novosti reviewed.

“Oil remains the largest source of energy in the EU: in 2024, its share in the energy balance was 38%. Oil and oil products play a particularly important role in the transport sector and the chemical industry - they consume about 70% and 20% of oil, respectively. At the same time, the EU is heavily dependent on imports, purchasing 95% of crude oil from abroad,” the report says.

EU member states are required to maintain oil reserves that correspond to the greater of either 90 days of imports or 61 days of domestic consumption. The composition of reserves by fuel type is determined by each country in the bloc depending on its specific needs. However, the authors find it difficult to assess the implementation of these obligations, since most countries do not disclose such data.

The largest reserves, according to experts, are in Germany, which has committed to maintaining a reserve in case of emergencies equal to 90 days of net imports of oil and petroleum products into Germany for the previous calendar year. Inventories may be held in the form of crude oil and petroleum products, namely gasoline, diesel fuel, heating oil and aviation fuel, with petroleum products comprising at least one-third of the reserves.

"The government has 110 million barrels of oil and 67 million barrels of petroleum products at its disposal, which could be released from reserves within a few days, according to the country's Ministry of Economy," the report says.

At the same time, this year Germany had the largest withdrawal of oil from reserves in the EU.