IEA Urges Members To Accelerate Diesel Releases As Global Supply Tightens

The International Energy Agency (IEA) has urged its member governments to accelerate remaining releases pledged under its March collective action, prioritising diesel, to ease tightening global diesel markets amid Middle East tensions.

Fatih Birol, executive director of the Paris-based agency, made the call in a letter to member governments ahead of an IEA Governing Board meeting on October 15.

He also encouraged all members, including those that have completed their pledged releases, to assess whether additional diesel releases are needed and, where appropriate, outline their scale, timing and supplemental nature.

The governing board meeting will provide an opportunity to review these efforts.

“As we did in March, I believe we can once again demonstrate the IEA’s capacity to act together in support of energy security and economic stability,” Birol said.

Birol also noted renewed attacks on civilian and energy infrastructure in Saudi Arabia, including attacks on the international airport in Riyadh.