EU To Agree To Strengthen Emergency Oil Stocks Rules

BRUSSELS -(Dow Jones)- The

European

Union

is expected to agree Friday to strengthen rules on emergency oil stocks and to publish data on commercial stocks every month, in an effort to increase both its readiness for any potential energy crisis and transparency in the commodities market.

While the European Commission still has some reservations, all 27 E.U. countries back the proposal that will be discussed by energy ministers at a meeting in Luxembourg Friday, sources close to the negotiation said.

The new legislation will align E.U. rules on emergency stocks to those of the International Energy Agency.

The commission shall publish “a monthly statistical summary of the commercial stocks,” the draft reads.

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