The EU is considering releasing significant amounts of diesel from its strategic reserves, which could account for over a third of the approximately 315 million barrels stored. Countries like Germany, France, Italy, Spain, and Poland hold the largest reserves. The White House has reportedly reached out to the EU to discuss this potential release to enhance global supply and reduce prices.
A senior European energy official confirmed that the U.S. made a proposal for a coordinated release among multiple EU countries. This idea was described as hypothetical and aimed at alleviating supply pressure, possibly helping the U.S. avoid an export ban on diesel.
At a recent press conference, an EU Commission spokesperson indicated that any stock releases would need to be coordinated through the International Energy Agency, underscoring the importance of collaboration among member countries and Washington.
