oil reserves

Serbia has sufficient oil reserves, prices set by government

Tomislav Mićović, General Secretary of the Association of Oil Companies of Serbia, stated in a morning RTV program that Serbia has enough oil reserves. However, the highest prices for oil derivatives are determined by the government, as they have been so far. Mićović explained that changes in the global market affect all import-dependent countries, including Serbia, which imports 80% of its crude oil. While business operations are challenging, the burden largely falls on sellers, and fuel prices in Serbia remain…