Europe – Threat to long term oil supplies

European domestic reserves of crude oil are declining at a rapid pace and with European energy demand set to pick up, the region could be exposed to additional security of supply risks, reports Katie Holliday

Against a backdrop of dampened demand, security of supply issues for the European oil sector have been overshadowed by what some perceive as the more pressing issue of securing natural gas deliveries from Russia. However, analysts say that Europe's already heavy reliance on foreign sources of oil is set to grow. As Europe slowly begins to recover from the impacts of the global recession, the risk