No plan to release new oil reserves, says France
5/13/2026 2:23:10 PM
Finance Minister Roland Lescure says there is currently no plan to release new oil stocks, but the issue could come up in the coming weeks.
The comments come after the International Energy Agency (IEA) said global oil supplies will not meet total demand this year due to the US-Israel war on Iran.
Earlier, the IEA said countries are tapping into oil inventories and strategic reserves at a “record pace” because of the “unprecedented” supply disruption.
“Rapidly shrinking buffers amid continued disruptions may herald future price spikes ahead,” it warned in its monthly report.
In March, the IEA said it would provide global markets with 400 million barrels of oil from members’ emergency stocks. So far, about 164 million barrels have been drawn down.
The comments come after the International Energy Agency (IEA) said global oil supplies will not meet total demand this year due to the US-Israel war on Iran.
Earlier, the IEA said countries are tapping into oil inventories and strategic reserves at a “record pace” because of the “unprecedented” supply disruption.
“Rapidly shrinking buffers amid continued disruptions may herald future price spikes ahead,” it warned in its monthly report.
In March, the IEA said it would provide global markets with 400 million barrels of oil from members’ emergency stocks. So far, about 164 million barrels have been drawn down.