IEA to meet Wednesday over proposed release of reserves, say two EU diplomats


FILE PHOTO: A view of the logo of the International Energy Agency in Paris, France, December 15, 2023. REUTERS/Sarah Meyssonnier/File Photo

BRUSSELS, Oct ⁠7 (Reuters) - The governing board of ⁠the International Energy Agency will ‌hold an informal meeting at 1300 local time on Wednesday to discuss the ​proposed release of oil ⁠and diesel stocks, ⁠said two European Union diplomats.

The representatives ⁠of ‌EU nations had already discussed this proposed release ⁠at a meeting on Wednesday morning, ​added ‌the diplomats.

Under pressure from US ⁠President Donald ​Trump, the Group of Seven major economies agreed last week ⁠to release 100 million barrels ​of diesel and crude oil from emergency reserves and pledged to ⁠refrain from energy export restrictions.

However, there has been confusion among those in the oil and energy ​industry over how ⁠many barrels Europe and the US ​plan to make ‌available to address shortages ​and record-high prices.

(Reporting by Kate Abnett;Editing by Sudip Kar-Gupta)

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