UK joins European talks on possible diesel-stock release

The European Commission has referred the question of a possible emergency diesel-stock release to the International Energy Agency (IEA). A Commission spokesperson told ANP that the agency would meet about the issue on Friday, 2 October. Brussels said it was coordinating with EU member states and discussing high energy prices with the US administration. [1]

Reuters reported, citing three people close to the discussions, that the Trump administration had told France and Germany to release emergency diesel stocks or face a possible US diesel-export ban. Reuters described the ban as an option President Donald Trump was considering. Separately, US Energy Secretary Chris Wright said several European members had released only a fraction of the oil and petroleum products they had pledged, and urged countries to fulfil their commitments. [4] [5]

The Commission said EU oil supply remained stable despite high diesel and jet-fuel prices, and that emergency stocks were high. It said commercial stocks in the Amsterdam-Rotterdam-Antwerp hub were below their five-year average, but had been stable in recent weeks. The Commission also said there was no diesel shortage in the EU. [2] [1]

Germany’s economy ministry told Reuters that the IEA had not asked it to release stocks. Under IEA rules, countries can also draw on emergency reserves outside a collective response, while releases of compulsory stocks require government authorisation. [4] [3]

Update

Energy Minister Martin McCluskey joined a call with European counterparts on Thursday about the possibility of a US diesel-export ban, the BBC reported. [8] Reuters separately cited an EU official saying Britain, the European Commission, France, Italy and Ireland were holding talks on whether diesel stocks might need to be released.