IEA Executive Director Calls for Faster Diesel Releases Ahead of Critical Board Meeting

Published on
12/10/2026 – 11:15 GMT+2

Ahead of this Thursday’s International Energy Agency governing board meeting, executive director Fatih Birol has written to member governments urging additional action to address tightening global diesel supplies.

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Birol urged nations that have not yet fulfilled their full March commitments—part of a 400‑million‑barrel IEA release—to accelerate their remaining sales, with diesel as the priority. Several countries have already exceeded their original pledges.

All members were also asked to evaluate whether extra diesel releases are needed and, if so, to specify the volumes they could make available and the timing.

The governing board will assess these actions at its meeting on 15 October.

“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 in a statement released on Sunday.

The G7 had previously announced plans to release up to 100 million barrels of oil to curb soaring energy prices. However, an internal document seen by Euronews indicated that this volume would merely satisfy the remaining March commitments, rather than supplement the original 400‑million‑barrel pledge.

“Of its 400 million barrels, 326 million have been released. Because some members over‑delivered, the 100 million barrels referenced in the G7 statement can be covered within the existing action if everyone fulfills their commitments,” the document states.

Diesel prices have surged amid global fuel shortages. The conflict in Iran has disrupted crude oil shipments through the Strait of Hormuz, while refinery damage has further constrained fuel supplies.

According to Kpler, crude oil and condensate exports from the Middle East Gulf, excluding Iran, rebounded to pre‑war levels in September. Nevertheless, much of that oil now moves through alternative routes or is transferred between offshore tankers.

The IEA’s statement follows two days after US President Donald Trump announced a diesel supply agreement with Russia. Washington has temporarily lifted sanctions on Russian diesel, permitting its sale and delivery, including US imports, until 7 April 2027.

Moscow announced it is prepared to supply oil and petroleum products to the US and global markets, following a telephone conversation between Trump and Russian President Vladimir Putin.

“I am convinced this will have a positive impact on the entire global economy,” Putin said, according to the Russian statement.

European sanctions remain in place, but additional Russian supply could help lower diesel prices. The effect will depend on how much fuel Russia can deliver, as refinery damage limits production.

Brent crude, the international oil benchmark, stayed above $100 a barrel on Monday morning. European diesel futures slipped roughly 3 % to about $1,437 a tonne.

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