Failure of oil supply
A failure of the oil supply occurs when demand for oil or petroleum products exceeds the available supply. This may be due to limited supply or exceptionally high consumption. Examples of petroleum products are gasoline, diesel and heating oil.
These failures are generally caused by an interruption in the supply of oil or petroleum products, which affects distribution to users. These issues can be linked to international factors, such as geopolitical tensions or conflicts, but also to local circumstances.
Risks and causes
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What can you do?
BEFORE
- Make sure your car is well maintained. A poorly maintained car consumes more fuel.
- Make sure that your oil-fired boiler is properly maintained.
DURING
- Avoid journeys in combustion engine cars.
- Do you need to travel nonetheless? Then opt for alternative means of transport such as public transport or cycling.
- Do you still heat your home with oil? Lower your thermostat.
AFTER
No specific recommendations.
Impact and probability
The figures relating to probability and impact describe a extreme failure in the oil supply. The BNRA theoretically describes such a scenario as follows:
- A failure affects the entire country and neighbouring countries.
- The authorities have to take steps to reduce long-term demand, free up national emergency reserves and implement solidarity measures.
How should you interpret these results?
Within the BNRA, experts assessed three scenarios for each risk: considerable, major or extreme. On each page, you will find the results of the scenario with the highest score based on the combination of likelihood and impact. This does not mean that this scenario will occur or is the most likely. Read more here about how to correctly interpret the results.
Probability
Weak
Human impact
Moderate
Societal impact
Strong
Environmental impact
No impact
Financial impact
Strong
What do the authorities do?
The FPS Economy monitors the oil market and is therefore able to identify and assess failures. Belgium is also obliged to hold emergency stocks. These stocks can be used to meet initial needs in the event of an oil shortage. The Agence de Stockage Énergétique (Energy Stocks Agency - ASEVA) is responsible for managing these emergency stocks.