Brussels, 09/09/2005 (Agence Europe) - At the Commission's demand, Member State experts from the Oil Supplies Group and the DG Energy at the Commission met on Friday in Brussels to: (1) analyse the situation of the oil markets. In this context the Oil Supplies Group stressed the need to make the market more transparent and encouraged the Commission to set up a Market Observation System within its services; (2) verify the current level of Member States security stocks which must, according to the Council Directive 73/238, correspond to at least 90 days' consumption. Community sources say that the Union's stock of oil currently amounts to 117 days' reserve taking all products together (petrol, diesel fuel and kerosene, and household fuel), according to June figures made available by the Member States, i.e. a figure above the compulsory reserve figure; (3) examine the emergency measures needed in the present situation of oil shortages, in the aftermath of Hurricane Katrina, which recently devastated New Orleans (USA). The Member States will take petroleum from their compulsory reserves to help Washington in the context of concerted action at the International Energy Agency (IEA) to which 17 of the 25 EU Member States belong (EUROPE 9019). Some Union countries could thus see their oil stocks fall below the 90-day threshold stipulated in Community legislation. According to sources familiar with the dossier, although this drop may in theory be in breach of Community law, it can be authorised by the Commission if the situation so warrants. The Commission, which must now study the figures provided by the Oil Supplies Group, trusts that the Member Sates will, in the current context, adopt a Community approach to prevent Member States from taking isolated measures that could fragment the Union's oil market. Consultation between the experts of Member States and the DG Energy will continue in weeks to come and the Oil Supplies Group will meet again on 19 September.