EU to Assess Oil Stock Release Amid Energy Security Concerns

The European Union will delay further releases of oil and diesel reserves until the International Energy Agency (IEA) assesses the impact on energy security. The decision comes after the G7 agreed to release 100 million barrels of oil and diesel, but the IEA confirmed that this would draw from existing stocks rather than new supplies. EU officials have endorsed the position, deferring any future drawdowns pending a clearer IEA assessment. Some countries have expressed concerns that releasing stocks now could leave them vulnerable in the event of a supply crisis.