Next G7 diesel release may not add new stock

France and Germany plan to release diesel stocks already
committed in March under a broader European oil-products pledge,
Politico reported on Wednesday, citing two diplomats familiar with
the matter.

The G7 agreed last week to release a "substantial" amount of
diesel within 20 days after the Trump administration threatened
potential US export restrictions if Europe did not unlock reserves.
However, countries recognized in a closed-door meeting today that
the releases would not add any new barrels to the market but would
draw on stocks already pledged under a commitment with the IEA in
March.

The outlet added that Germany has so far released 600,000 tons
of the 2.65 million tons of oil, diesel, and jet fuel it committed
to. France has indicated it has about 8 million barrels remaining
from its March pledge, which it plans to contribute to the latest
effort.

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