IEA to decide details of G7 diesel and oil stocks release on October 14-15, sources say
USO•The IEA governing board is expected to decide on October 14-15 how to carry out the G7’s release of 100 million barrels of diesel and crude oil from emergency reserves. The G7 has not specified the volumes by product or which countries will participate; one source said Italy would take part.
1. IEA board to set details
The International Energy Agency’s governing board is expected to decide at its October 14-15 meeting the details of the diesel and crude oil stocks release announced by the G7, two people close to the matter said.
2. G7 agreed to release
G7 countries agreed to release 100 million barrels of diesel and crude oil from emergency reserves and pledged to refrain from energy export restrictions. They have not provided a breakdown of the volumes by product or said which countries would participate. One source said Italy would be part of the release.
