Trump says US won’t ban diesel exports
The release follows U.S. pressure on Europe as diesel prices stay near record highs and the International Energy Agency says 80% of a March pledge is already out.
- On Oct 2, President Donald Trump announced the United States will not impose a diesel export ban, praising European countries for releasing fuel from strategic reserves.
- The Group of Seven nations agreed Friday to release 100 million barrels of diesel and crude oil from emergency reserves over four months to ease global energy supply concerns fueled by the Iran conflict.
- Although the administration signaled it was considering an export ban as recently as Thursday, Trump stated on Oct 2 that the measure was "never really on the table" for the United States.
- Praising the decision, Trump said, "Europe has a lot of diesel, and they're going to be making a major world contribution, and so are we."
- The Republican Party faces losing control of Congress in midterm elections next month amid voter anger over energy prices and the conflict involving Iran.
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Almost one sixth of the strategic oil reserves of the member countries of the International Energy Agency have been depleted since March, when the G7 decided to use them.
This announcement comes after the G7 announced on Friday a new coordinated release of 100 million barrels
IEA says 325m oil barrels released by members’ reserves
The International Energy Agency (IEA) yesterday said member countries had so far released 325 million barrels of oil and oil-derivative products from strategic reserves, up from 400 million barrels promised in March.The update came a day after G7 countries, in coordination with the IEA, agreed to im
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325 million barrels of oil from strategic reserves released: IEA
PARIS: The International Energy Agency said Saturday that member countries had so far released 325 million barrels of oil and oil-derivative products from strategic reserves, from 400 million barrels promised in March. The update came a day after G7 countries, in coordination with the IEA, agreed to immediately release 100 million barrels of diesel and crude oil to ease global energy supply concerns caused by fallout from the US-Iran war. The G7…
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