Overview
- The cabinet authorized releasing 11.5 million barrels over three months as Spain’s contribution to the IEA’s 400‑million‑barrel coordinated intervention, representing about 2.9% of the total.
- An initial tranche of 3.75 million barrels, roughly four days of national consumption, will be injected within two weeks, with later phases adjusted based on market conditions.
- The approved mix includes 2.2 million barrels of gasoline, about 9 million barrels of middle distillates such as diesel and jet kerosene, and approximately 297,000 barrels of fuel oil.
- Products will be sold at market prices, and officials expect diesel to account for the bulk of volumes given Spain’s demand profile.
- Spain holds around 92 days of oil reserves, or about 122 million barrels, split between Cores custody and stocks maintained by industry, distributors and operators.