EU holds crisis meeting as US pressure mounts to release emergency oil stocks
EU countries and the European Commission are holding talks on Friday that could pave the way for a new emergency oil reserves release, as pressure from Washington mounts. Energy Commissioner Dan Jørgensen told Euronews a fresh emergency release is "a possibility".
European leaders are set to convene on Friday to discuss releasing emergency diesel stocks, as the cost of fuel continues to skyrocket and pressure mounts on governments to take action. The United States has warned European allies that they may face an export ban if they fail to release more diesel supplies, threatening the global availability of refined products.
European Energy Commissioner Dan Jørgensen confirmed that a new emergency release is a possibility, stating that discussions are currently underway with all members of the International Energy Agency (IEA) to determine the appropriate time for release. Ireland, currently holding the rotating presidency of the Council of the EU, confirmed the meeting, noting that the diesel market is extremely tight and resulting in high prices for consumers worldwide.
The discussions will involve the International Energy Agency, which previously coordinated collective action in March to support oil markets after US and Israeli military attacks against Iran. US President Donald Trump and French President Emmanuel Macron have also held talks to discuss the global energy situation and coordinate action to combat rising fuel prices and ensure the global availability of refined products.
US Treasury Secretary Scott Bessent has renewed pressure on European countries to release additional supplies, urging them to accelerate delivery on existing commitments and make additional supplies immediately available to address ongoing disruptions.
Written by urgent.news from Euronews's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
