Hungary’s emergency oil stockpiles have fallen to their lowest level in nearly a decade, reflecting mounting pressure on supply chains and growing reliance on reserves to stabilize the domestic market.
By the end of February, strategic reserves had dropped to 487,000 tons, marking a sharp decline over the previous month. The reduction was triggered by disruptions in crude deliveries, particularly after damage to the Druzhba pipeline halted Russian oil transit through Ukraine, highlighting vulnerability in transit infrastructure.
In response to the supply interruption, MOL Group requested access to state reserves, leading to the release of approximately 250,000 tons. This represented a substantial share of the available stock at the time and contributed significantly to the rapid depletion of strategic reserves.
The downward trend becomes even more pronounced when viewed over a longer period. Since October, when reserves exceeded 770,000 tons, nearly half of the country’s mobile oil stock has been drawn down. Authorities have also taken additional steps to prevent fuel shortages by making large volumes of gasoline and diesel reserves available, reflecting concerns over fuel security amid broader energy market volatility. This decision was influenced by instability in global energy markets, particularly after tensions in the Middle East disrupted key shipping routes and affected supply flows.
However, the outlook remains uncertain. With crude deliveries through the Druzhba pipeline still halted, continued reliance on reserves is expected. Current estimates suggest that ongoing supply gaps could further reduce stockpiles in the coming weeks, potentially prompting the government to release additional quantities if import conditions do not improve, underscoring ongoing supply risks and pressure on national energy buffers.
