Egypt's strategic reserve of oil sufficient for up to 6 months

CAIRO – 23 June 2021: The Ministry of Supply and Internal Trade in Egypt announced that the strategic reserve of oil is sufficient for 5 or 6 months

The ministry said, in a statement, Tuesday, that in the context of strengthening the country's stock of supply oil, a representative of the General Authority for Supply Commodities has contracted a quantity of 84,000 tons of raw edible oil, including 73.5 thousand tons of imported oil.

It added that this quantity include 63 thousand tons of imported soybean oil and 10.5 thousand tons of imported cedar oil, in addition to 10.5 thousand tons of raw soybean oil, that are locally poured.

The ministry had announced the movement of oil prices on ration cards for 1 liter bottles with the introduction of a new bottle with a capacity of 800 ml, as well as the formation of an oil pricing committee every 3 months.