WASHINGTON/BRUSSELS/PARIS: The United States has urged Germany and France to release emergency diesel stocks. The move is aimed at increasing fuel supplies and easing global prices.
Three people familiar with the discussions shared the information with Reuters. The US administration has warned Europe about a possible US diesel export ban.
The warning comes as US President Donald Trump considers measures to lower fuel prices. The move is also being discussed ahead of the November midterm elections.
European officials are now discussing whether additional diesel stocks should be released. The European Commission, Germany, France, Italy, Ireland and Britain held discussions on Thursday.
A European Union official confirmed the planned talks to Reuters. The discussions are focused on possible measures to increase diesel supplies.
US officials have expressed frustration with Germany and France. Washington believes both countries have not fully met earlier commitments.
Those commitments involved releasing emergency oil and petroleum reserves. The US administration has previously called for greater action from European countries.
A US official said cooperation would benefit Europe and the United States. The official said both sides were exploring ways to increase refined fuel supplies.
Another source said the United States asked the European Union to release 120 million barrels of diesel. The proposed amount would be released over the next six months.
Europe Reviews Emergency Fuel Reserves
European countries hold large emergency reserves of crude oil and refined fuels. EU nations collectively hold nearly 109 million tonnes of emergency oil and fuel stocks.
Washington is now urging European countries to draw down some of these reserves. Global fuel prices have increased amid several supply disruptions.
The disruptions are linked partly to the conflict involving Iran. Ukrainian attacks on Russian refineries have also affected fuel supplies.
US Energy Secretary Chris Wright said Europe could soon announce additional diesel supplies. He said several major sources of diesel exports had been disrupted.
The United States has also faced reduced diesel supplies from some regions. Diesel exports from the Middle East and China have been affected.
The US administration is seeking additional supplies to address the pressure on fuel markets. European diesel stocks have therefore become a major focus of discussions.
Germany’s economy ministry did not immediately respond to a Reuters request. France’s energy ministry also declined to comment on the matter.
An official at the French presidential palace provided additional details. The official said French President Emmanuel Macron had not discussed the issue with Trump recently.
Macron and Trump met on the sidelines of the United Nations General Assembly in New York. Their meeting took place last week.
The French president is expected to convene a video conference involving G7 leaders. The meeting will focus on rising fuel prices and refined product availability.
The discussions may also cover coordination with the International Energy Agency. Officials could consider releasing reserves to improve market supplies.
Europe has become more dependent on US fuel supplies in recent years. This followed Europe’s ban on Russian energy imports after Russia’s invasion of Ukraine.
The conflict involving Iran has also disrupted fuel supplies from the Middle East. These developments have increased pressure on global refined fuel markets.
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The discussions over emergency reserves could influence diesel availability in coming months. However, European governments have not yet confirmed the proposed release of reserves.
