The Federal Government anticipates that the ongoing escalation in the Middle East will not negatively affect the security of crude oil supply. According to a spokesperson for the Ministry of Economics speaking to the dts Nachrichtenagentur on Monday, the shutdown of the East-West pipeline in Saudi Arabia and the Houthi offensive in Yemen are not expected to have any consequences regarding supply security. While higher prices are anticipated in Germany, this will not impact the reliable supply of crude oil and refined products, as bottlenecks are not currently foreseen. The spokesperson noted that any shortages would be compensated for through the release of strategic oil reserves. Furthermore, refineries in both the United States and Europe-including those in Germany-are operating at full capacity. “In this sense, there is currently no cause for concern regarding supply security,” the spokesperson added.
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