XLE & Oil

France Says Europe Set to Release 42MM Barrels of Oil

Rigzone·Oct 29, 2026 · 7:39 AM CT
Read the original at Rigzone
Readthrough summary

France's economy minister Roland Lescure said Europe will put 42 million barrels of oil reserves on the market over the next three months to ease prices, with half of the release in diesel. He spoke before a meeting of EU energy ministers in Luxembourg.

The Group of Seven agreed last month to release up to 100 million barrels, completing an IEA-coordinated 400-million-barrel release begun in March.

Lescure said France's own 10-million-barrel diesel release would hit the market in the coming days, sold at cost, lowering prices by 12 to 18 cents a liter. Diesel is "at the heart of our challenges," he said, adding Europe would keep further releases on the table.

Key points

  • 42M barrels over three months, half diesel
  • French diesel release could cut 12-18 cents/liter

Summary written by Readthrough from the original article. The full story, with photos and any updates, is at Rigzone.

Read the original at Rigzone

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