IEA: Ber land vurdere nye diesel-slipp

The International Energy Agency (IEA) issued a warning on Sunday regarding the need for member countries to consider new measures to address the current diesel market situation. IEA chief Dr. Fatih Birol stated that he believes they can demonstrate the agency's capacity to act together and support energy security and economic stability. The IEA has sent letters to member countries expressing urgent action is required due to the diesel market's struggles.

The IEA highlighted the recent attacks on civil and energy infrastructure in Saudi Arabia, including the tragic attacks on the international airport in Riyadh. This comes after coordinated oil and oil product releases from member countries' stocks. Currently, diesel prices have been high, with Norway reporting pump prices exceeding 30 kroner per liter.

Global diesel supplies have faced disruptions from the Middle East and the destruction of Russian refining capacity by Ukrainian drones. Russia had also banned diesel exports since the previous summer.

In a recent development, US President Donald Trump announced an agreement with Russian President Vladimir Putin to ensure diesel supplies to the global market. Russia had been blocked from exporting diesel since the summer. While diesel prices in the US have been unusually high, and the country is facing a midterm election on November 3rd, it appears to be a desperate move to ease the situation before the election.

IEA's senior analyst Thina Saltvedt commented on the challenging market situation, stating that the price gap between crude oil and diesel remains significant and affects many sectors, making it perhaps the most critical oil product.