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Europe set to release 42 million barrels of oil for 'short term relief'

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The National
“Europe set to release 42 million barrels of oil for 'short term relief”

Europe will release 42 million barrels of oil reserves into the market over the next three months as part of its commitment to ease prices, France’s economy minister Roland Lescure said on Thursday. Half of that release will be diesel, Mr Lescure said ahead of a meeting of EU energy ministers in Luxembourg. Group of Seven nations agreed last month to release up to 100 million barrels, marking a completion of an IEA-coordinated 400-million-barrel release in March. Mr Lescure said a French…

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