EU warns of energy 'price crisis', asks countries to consider curbing demand
EU warns of energy 'price crisis', asks countries to consider curbing demand The European Union is facing an energy price crisis as a result of the Iran war fallout in oil and gas markets, the bloc's energy chief said on Friday in a letter seen by Reuters, which urged countries to consider measures to curb energy demand. "We are facing a price crisis linking to a supply crisis," EU energy…
The European Union has issued a warning of an impending energy price crisis, citing the fallout from the Iran war in oil and gas markets, according to a letter from EU energy chief Dan Jorgensen. Jorgensen's letter, seen by Reuters, urges countries to consider measures to curb energy demand, stating that the EU is facing a price crisis linked to a supply crisis.
Despite being better prepared than during the 2021 Russia-led gas supply reduction, Jorgensen calls on governments to step up preparations for the upcoming winter, inviting them to consider sustaining gas storage injections or reducing energy demand as necessary.
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