Morocco’s Competition Council is working on a study of strategic stocks of petroleum products, fuels and derivatives, examining how a storage system could be established without undermining fair competition, a well informed source told Hespress.
The source said one option under consideration was a national shared stock system under which companies would cooperate in sourcing and storing products collectively, in a way that served the public interest without upsetting market balances.
Such cooperation would require the council’s approval and oversight to ensure it did not distort competition, the source said, adding that joint purchasing and joint storage were subject to strict rules.
The council is currently studying the issue while taking into account market organisation and transparency requirements to avoid any negative impact on competition between operators, the source said.
The aim of strategic reserves is not to influence prices but to secure market supply and ensure continuity of deliveries under different circumstances, the source added, noting that Moroccan law requires a minimum strategic reserve equivalent to 60 days.
Having stocks that cover several months does not necessarily mean controlling prices, the source said, because those reserves may have been bought at high prices while international markets later declined, raising questions over when such changes should feed through into the domestic market.
The source said the council viewed strategic reserves as a supply security tool, not a mechanism for raising or lowering prices.
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