France Floats Major Oil and Diesel Reserve Release in Response to US Pressure
18 Articles
18 Articles
France, against the backdrop of pressure from Washington, France, has proposed to the European Union that 50 million barrels of crude oil and 50 million barrels of diesel be released from strategic reserves. Paris has launched an initiative to use strategic reserves on a large scale in urgent negotiations after Washington threatened to ban fuel exports. The French side has suggested that European countries should release 50 million barrels of cr…
French government officials on Friday, October 2, proposed a large-scale release of strategic oil and diesel reserves during emergency talks.
Paris is ahead of 100 million barrels, 50 million of which can be directly mobilised by European countries and 50 million crudes via the IEA. The market has anticipated the operation: European gas oil contracts have sold more than 5% on Friday morning.
An open source of Reuters stated that EU countries discussed a French proposal to withdraw additional diesel stocks, in response to American pressure on European countries to put more supplies on the market in an effort to reduce escalating fuel prices. The source explained that during a phone call today Friday, EU governments discussed a French proposal for European countries to withdraw 50 million... read more.
European Union countries are seeking a solution to Donald Trump’s ultimatum to release strategic oil and diesel reserves. Otherwise, Trump has threatened to end US exports, a move that would further deepen the energy crisis in Europe. Washington has reportedly demanded […] The post Europeans seek a solution to Trump’s diesel ultimatum – What does France’s proposal entail appeared first on iEidiseis.
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