PNN – Media outlets reported that the United States has asked the European Union to release 120 million barrels of diesel into the market over the next six months.
According to the report of Pakistan News Network citing Al Jazeera—based on information from informed sources—that the U.S. has requested France and Germany to release quantities of diesel from their emergency stockpiles.
According to the report, these sources added that the U.S. has asked the European Union to supply 120 million barrels of diesel to the market within the next six months.
This request from the U.S. to Europe comes as the Executive Director of the International Energy Agency stated on Tuesday that Europe is among the regions most vulnerable to current diesel shortages—and may even be the most vulnerable of all.
Pointing to Europe’s reliance on diesel imports, Fatih Birol noted that the European Union imports large quantities of the fuel, particularly ahead of the winter season, and that supply chain issues have further exacerbated the situation.
He also pointed to the challenges facing traditional diesel exporters—including Russia and the Persian Gulf states—and noted that the United States is currently considering a ban on diesel exports.
Reuters has also reported that the International Energy Agency is closely monitoring oil markets, particularly the market for products such as diesel, and that member nations will discuss the potential release of strategic oil reserves if necessary.