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Wednesday, October 21, 2026Updated 01:59 UTC

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EU Stands Firm Against Arctic Oil and Gas Drilling Despite Energy Crisis

Source: OilPrice.com · Oct 20, 2026 17:45 UTC

Aerial view of refinery storage tanks near Houston on the Gulf coast — File photo Carol M. Highsmith / Library of Congress · Public domain · Source

The Quick Take

The European Union reaffirmed its opposition to Arctic oil and gas development on Tuesday, even as the bloc prepares for another expensive winter with depleted gas storage and prices approaching levels last seen during the 2022 energy crisis. The European Commission's new Arctic strategy calls for keeping oil, coal, and gas reserves in the ground, including in Arctic regions, and preventing hydroc

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