European Union countries discussed a French proposal on Friday to release additional diesel reserves as governments consider measures aimed at increasing fuel supplies amid higher prices, according to a source familiar with the discussions cited by Reuters.
The proposal would involve European countries releasing 50 million barrels of diesel, while members of the International Energy Agency would release an additional 50 million barrels of crude oil, the source said.
The discussions follow pressure from the United States for European countries to make additional fuel supplies available in response to rising prices.
EU governments also discussed making any agreement on further diesel reserve releases conditional on a commitment from the United States not to impose a unilateral ban on diesel exports, according to the source.
No agreement on the proposed stock releases was reported in the supplied information, and the discussions remain at the proposal stage.
G7 leaders may hold a call later on Friday to discuss possible next steps, the source said.
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