EU’s Michel: The Union must reduce energy consumption, increase supply

Charles Michel, the President of the European Council said on Friday that the bloc must reduce energy consumption and increase supply.

Additional quotes

The EU needs to engage with Algeria, Qatar, UAE and Saudi Arabia to manage the current crises.

For most of these four countries its possible to increase supply, we need to determine conditions.

Good proposals on energy prices are on the table in the EU, but more will be needed.

We discussed with Qatar rerouting gas meant for Asia.

Related reads

• EUR/USD: Sellers to retain control if 0.9950 fails
• ECB’s Rehn: There is a case for frontloading the tightening cycle