Europe reportedly discussed plan for diesel stock releases after US pressure
USO•EU governments reportedly discussed a French proposal for European countries to release 50 million barrels of diesel and International Energy Agency members to release 50 million barrels of crude oil.
1. Proposed fuel releases
EU governments discussed the French proposal on a call Friday, a source familiar with the discussion said. The proposal calls for European countries to release 50 million barrels of diesel and IEA members to release 50 million barrels of crude oil.
2. Conditions under discussion
The source said countries discussed requiring a US commitment to avoid a unilateral diesel export ban as part of any agreement on further releases. G7 leaders may hold a call Friday afternoon to discuss next steps.
