The oil market in normal market conditions
The Belgian oil market is a liberated market, ruled by offer and demand. In normal market conditions, the diversification of our supply of crude oil and oil products is, in consequence, left at the choice of the oil companies active on the Belgian market. The government, nevertheless, steers the oil market by means of flanking measures in the field of energy efficiency, sustainability and maximum prices for some finished products.
The Directorate-general Energy of the FPS Economy assumes a continuous monitoring of the oil markets. Possible disruptions to the Belgian market can, thus, be traced and assessed, allowing a quick response to a possible oil crisis.
The oil market in a possible crisis situation
In case of an oil crisis, the supply of crude oil or oil products is disrupted, endangering the distribution towards the end consumers. This disruption may be caused by problems at an international or local level.
The Directorate-general Energy of the FPS Economy is responsible for the elaboration of the legal and operational framework of the management of a (potential) international or local oil crisis. In case of such crisis, both the Directorate-general Energy and APETRA play an active role in its management. The National Oil Bureau (NOB) has an advisory and monitoring role in case of supply problems.
See also: FAQ.