In an extraordinary meeting last March 18, the International Energy Agency (IEA) Governing Board took stock of the latest situation on oil markets and its effect on prices and security of supply. In the discussion, the Commission welcomed the IEA-coordinated action to make around 400 million barrels of oil available to the global market to offset losses in supply and to instill stability. It has been […]
EU agri-food trade hits new records in 2025
The European Union’s agri-food sector recorded another record year in 2025, consolidating its global leadership in agricultural trade. The trade surplus was approximately four times higher than in 2002, and the EU remains a net exporter in most agri-food categories. Furthermore, the sector contributed 37% of the EU’s total trade surplus in 2025, underlining its […]
Parliament and Council seek bringing down prices of gas
MEPs and the Polish Presidency of the Council reached an informal agreement on Tuesday to extend the EU’s 2022 gas storage scheme until 31 December 2027, as it would otherwise have expired at the end of 2025. The provision is designed to ensure gas supply security ahead of the winter season. MEPs and Council also […]
Rail market opening: competition leads to lower ticket prices, EU study finds
A study released by the European Commission today highlights the user benefits of competition in both passenger rail and rail freight services. It reveals that increased competition in the EU rail market has resulted in significant reductions in ticket prices for rail passengers and in freight transportation costs. Efficiency gains are evident across all segments – passenger open access, public […]
Eurostat: Halting sharp rises in agricultural prices in the EU by 2023
First estimates of agricultural price indices for 2023 indicate a shift from the sharp price increases that characterised 2021 and 2022. In 2023, the average price of agricultural goods as a whole (output) in the EU increased by 2% compared to the previous year, while the average price of goods and services currently consumed in agriculture (inputs) […]
Spain is the EU country where electricity prices fell the most in the first half of 2023
After a significant increase in prices that started before the Russian invasion of Ukraine, but skyrocketed through the second semester of 2022, electricity and gas prices are stabilising. The prices of energy rose due to an increase in the price of natural gas, which is considered the marginal fuel. This happened because the imports from […]
SOTEU 2022: Commission proposes emergency market intervention to reduce bills for Europeans
The Commission is proposing an emergency intervention in Europe’s energy markets to tackle recent dramatic price rises. The EU is confronted with the effects of a severe mismatch between energy demand and supply, due largely to the continued weaponisation by Russia of its energy resources. To ease the increased pressure this puts on European households […]
Russia’s invasion of Ukraine is aggravating the global food crisis
What is causing the food crisis? Russia’s war in Ukraine is driving food prices up to an all-time high. Global agricultural commodity prices have been constantly rising since mid-2020 against the backdrop of the recovery from the COVID-19 pandemic, soaring fertiliser and energy prices and a global deterioration of macroeconomic conditions. Russia’s military aggression against […]
MEPs want more effective measures to respond to rising prices
MEPs urged the EU to better counteract Russia’s energy dependence and quickly secure cleaner and more affordable energy for all. In the wake of the Russian invasion of Ukraine and the resulting rise in energy prices, MEPs in a plenary debate on March 24 put questions to the Council and the Commission on the Union’s […]