IEA to speed up release of oil stocks, including over 20 million barrels of diesel
The move follows US pressure over current plans not going far enough to quell rising fuel prices
The International Energy Agency (IEA) has agreed to swiftly release over 20 million barrels of diesel to the market, in addition to any remaining oil from an emergency reserve pledged in March, to help alleviate soaring fuel prices. The move comes in response to US President Donald Trump's pressure on EU countries to draw down reserves, or face potential US diesel export bans.
The IEA's board discussed the release of stock on Thursday, reaffirming its commitment to the March 2026 collective action. Over 330 million barrels have been released so far as a result of the pledge.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
