Europe discussing plan for diesel stock releases after US pressure, source says

European ​Union countries on Friday ​discussed a ‌French proposal ​to release additional diesel stockpiles, in response to US ‌pressure on European nations to unleash more supplies in an attempt to reduce surging ‌fuel prices, a source familiar with details ‌of the discussion told Reuters on Friday. In a call on Friday, EU countries' governments discussed a French ⁠proposal ​for European ⁠countries to release 50 million barrels of diesel, and ⁠for International Energy Agency members to release 50 ​million barrels of crude oil, the ⁠source said.

The countries discussed that any agreement on ⁠further ​diesel stock releases should include a US commitment to avoid a unilateral diesel ⁠export ban, the source said. G7 country leaders ⁠may ⁠hold a call on Friday afternoon to discuss their next steps.