Report on the situation of oil supply, refining and market in the European Community.

Abstract

The European Commission has been preparing regularly Reports for the Council on the situation of oil supply, refining and markets in the European Union since the late 1970's as a result of the oil price shocks. These have covered such developments as the problems of overcapacity, changes in demand structure and stricter environmental requirements. The last such Report was prepared in 1992 following the Gulf Crisis, in the form of a Communication to the Council [COM (92) 152].