BRUSSELS, Oct 30 — Eleven European countries pledged today to jointly release 42.6 million barrels of oil by the end of January, in line with a G7 deal struck this month to ease global energy supply concerns.
“EU member states have reaffirmed their commitment to an accelerated release of 42.6 million barrels from strategic reserves over the next months, and around half of this will be diesel,” the EU’s energy commissioner Dan Jorgensen told reporters.
Eleven countries including France, Germany and Italy said in a statement they would release the oil from their strategic reserves by the end of January 2027, including 20.5 million barrels of diesel.
The announcement comes weeks after the G7 economies said they would release 100 million barrels of diesel and crude oil after US President Donald Trump threatened a diesel export ban.
