International Energy Agency Calls for Consideration of Releasing More Diesel Reserves

Al-Taj News – The head of the International Energy Agency called on the organization’s member countries to assess their needs to determine whether more strategic diesel reserves should be released.

In an email to members published on Sunday, ahead of the October 15 meeting at the agency’s headquarters, Fatih Birol said the current situation requires “immediate attention” and that “cooperation among member countries may be the best way to contain it.”

A statement summarizing the message said: “All members, including those that have fulfilled their commitments regarding the release of oil barrels, are invited to assess the need for new releases of diesel barrels and, if they consider it necessary, determine the quantities, timelines, and nature of the releases.”

As for countries that have not yet fulfilled all the commitments made last March, they “should consider accelerating the pace of the remaining actions, giving priority to diesel.”

In March, the 32 member countries of the International Energy Agency pledged to release 400 million barrels of oil onto the market to contain supply disruptions caused by the war in the Middle East.