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The Netherlands has announced a third release of strategic oil stocks: 95,000 tonnes of diesel and petrol, while kerosene remains in reserve.
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The third tranche comprises 50,000 tonnes of diesel and 45,000 tonnes of petrol – about 753,000 barrels in total – from reserves managed by the Dutch oil stockpiling agency COVA. The government is again holding back kerosene in case conditions worsen. COVA plans to offer the products to the market in stages from 2 October. [1]
The government says this brings its total release to nearly 4.7 million barrels of oil and oil products, about 87% of its 5.4 million-barrel pledge. Earlier portions were released in late July and early September. [1]
The Dutch release is part of an initiative involving 31 countries affiliated with the International Energy Agency. The government says the action aims to offset lost supplies from the Middle East, with releases staggered to help curb rising oil prices. [1]
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