Corporación de Reservas Estratégicas de Productos Petrolíferos (Cores)

Corporación de Reservas Estratégicas de Productos Petrolíferos (Cores) is the Spanish entity responsible for monitoring and reporting on the country's petroleum imports and strategic reserves. Cores' data is crucial for understanding Spain's energy security and vulnerability to global events. They are newsworthy now due to the ongoing energy crisis exacerbated by conflicts in the Middle East, particularly the Iran situation. Recent data from Cores indicates that Spain decreased its oil purchases in February, prior to the escalation of conflict, while increasing purchases from the Middle East by 9%. This highlights Spain's reliance on the region and the potential impact of supply disruptions on the Spanish economy. Cores' reports are vital for assessing the resilience of Spain's energy supply in the face of international instability and price volatility.