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<p>The UK currently holds 39 days of petrol stocks. The UK is also currently a net
exporter of petrol as our refineries produce more than the UK consumes.</p><p> </p><p>The
UK has two international obligations to hold emergency oil stocks that can be released
in response to disruptions to the oil market, as required by the EU Oil Stocking Directive
(2009/119/EC) and under International Energy Agency (IEA) rules. The EU Oil Stocking
Directive requires Member States to maintain stocks at the higher of 90 days of net
imports or 61 days of inland consumption. The IEA obligation requires 90 days of net
oil imports.</p><p> </p><p>UK oil stocking obligations after we exit the European
Union will depend on the terms of our exit, including whether there is a transition
period. Under any scenario, the UK will continue to be bound by the IEA requirement
to hold oil stocks equal to 90 days of net imports. Many countries around the world
subscribe to the same obligation, a level widely considered appropriate to protect
against oil disruption.</p>
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