The oil market in normal market conditions

The Belgian oil market is a liberated market, ruled by offer and demand. In normal market conditions, the diversification of our supply of crude oil and oil products is, in consequence, left at the choice of the oil companies active on the Belgian market.

The government, nevertheless, steers the oil market by means of flanking measures in the field of energy efficiency, sustainability and maximum prices for some finished products.

The Directorate-general Energy of the FPS Economy assumes a continuous monitoring of the oil markets. Possible disruptions to the Belgian market can, thus, be traced and assessed, allowing a quick response to a possible oil crisis.

And what is an energy crisis?

The Law of 21st December 2023 defines an energy crisis as an emergency situation as stipulated in Article 1, 3°, of the Royal Decree of 22 May 2019 on emergency planning or any other situation that contributes or may contribute to an energy supply crisis, whether or not related to a petroleum supply crisis, on an international, national or local scale as so recognised by the minister.