Hungary to Release Strategic Oil Reserves Amid Druzhba Pipeline Halt

Hungary's government is set to release 250,000 tons of crude oil from its strategic reserves following a stoppage in oil flows through the Druzhba pipeline. Hungary's oil company, MOL, will have priority access to these reserves, according to a decree from the government.

Hungary is making a significant move to address the interruption of oil flow from the Druzhba pipeline by releasing 250,000 tons of crude oil from its strategic reserves.

The government's official journal outlined this decision in a decree published late Thursday. The oil, crucial for maintaining national stability, will be prioritized for Hungary's own use.

MOL, the nation's primary oil company, has been granted priority access to these reserves, underscoring the urgent need to mitigate any potential fallout from the supply disruption.

(With inputs from agencies.)