EU wants coordinated approach with US on lowering diesel prices, Sefcovic says
USO•EU trade chief Maros Sefcovic said he discussed tight diesel supplies and price spikes with U.S. Trade Representative Jamieson Greer, expressing Europe’s preference for coordinated action to lower prices. Sefcovic said restricting diesel exports would be unexpected and detrimental to Europe’s economic performance.
1. Diesel discussions
Sefcovic said he and Greer discussed diesel supplies and prices at the G20 trade ministers meeting in Milwaukee, but did not go into great detail. They agreed to stay in close contact to avoid surprises, he said.
2. Supply and prices
Sefcovic said Europe had exceeded its commitment to buy U.S. energy under last year’s trade agreement. He said both sides had an interest in working together to lower prices for diesel and other oil and gas products, while securing supply for citizens on both sides of the Atlantic.
3. Reserve requests
Greer said he had discussed the issue with European counterparts and expressed the Trump administration’s desire for them to release more diesel reserves. The article reported that the administration had told France and Germany they faced U.S. diesel export restrictions if they failed to release fuel from strategic reserves.
