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Europe Set to Release 42 Million Barrels of Oil, France Says

Bloomberg Markets Thursday 29 October 2026, 11:22 UTC By John Ainger 1 min read
Key Points

Europe Set to Release 42 Million Barrels of Oil, France Says 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 Thursday. Half of that release will be diesel, Lescure said ahead of a meeting of European Union energy ministers in Luxembourg. Group of Seven nations agreed last month to release up to 100 million barrels, marking a completion of an...

Europe Set to Release 42 Million Barrels of Oil, France Says 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 Thursday. Half of that release will be diesel, Lescure said ahead of a meeting of European Union 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.
France (LOCATION) Europe (LOCATION) Roland Lescure (PERSON) Lescure (PERSON) European Union (ORG) Luxembourg (LOCATION) IEA (ORG)
Originally published by Bloomberg Markets Read original →

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