Oil: Trade
The question
To ask the Secretary of State for Energy Security and Net Zero, what steps his Department has taken to mitigate the the risk of disruption to global oil trade routes in the last three years.
Answered by Martin McCluskey
As a member of the International Energy Agency (IEA), the UK holds emergency oil stocks of 90 days of net imports. The UK’s participation in the co-ordinated IEA release of 400 million barrels of oil stocks in response to the Middle-east conflict is a sensible and measured step to support global oil market stability.
The Secretary of State is in regular and close contact with key international partners, to ensure a coordinated international response and functioning markets
The Government is driving further and faster for clean homegrown power that we control to protect the British people and bring down bills for good.
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