IEA discusses oil and diesel reserve release plans with the European Union

2026-10-07 23:42:56

The International Energy Agency (IEA) and the European Union discussed the proposal to release crude oil and diesel stockpiles with diplomats and analysts. The Group of Seven agreed last Friday to release 100 million barrels of oil. The wars with Iran and Ukraine have damaged refineries, driving up diesel prices and impacting inflation and the transportation industry.