The European Union (EU) has opposed a US threat to suspend diesel exports to the bloc unless European countries release additional fuel from their reserves, warning that such a move could undermine energy cooperation between the two sides.
The US position follows President Donald Trump’s support for restricting diesel exports to keep more fuel in the domestic market and curb rising energy costs.
The G7 will coordinate the release of 100 million barrels of diesel and other energy reserves through the IEA over four months to ease supply pressures and stabilize global energy markets.
A large plume of smoke and fire was seen near an Aramco facility in Riyadh on Saturday, according to a witness who spoke to Reuters, as attacks linked to Yemen’s Iran-aligned Houthis intensify.
OPEC+ has delayed a review of members’ oil production capacity after the Iran war disrupted projects to expand output across the Middle East, creating uncertainty over estimates that will help set 2027 quotas, according to two sources familiar with the matter.
Saudi Arabia has raised oil flows through its East-West Pipeline to more than 80% of capacity, increasing crude available for export from the kingdom’s Red Sea coast as domestic refinery demand falls.
US President Donald Trump said on Wednesday that his administration is still considering a ban on US diesel exports as it seeks to curb rising fuel prices, Reuters reported.
Speaking at the White House, Trump said discussions over a potential export ban were taking place “every day.” He said the measure could reduce diesel prices in the US but would likely put upward pressure on gasoline prices.
South Korea has outlined plans for major US gas, nuclear, and LNG projects under a $350 billion investment package aimed at strengthening energy ties and securing exemptions from US import tariffs.
UAE-based energy technology company AIQ, a joint venture between Abu Dhabi National Oil Company (ADNOC) and Presight, has signed an agreement to enter India’s oil and gas sector, marking another step in the ADNOC-backed company’s expansion of artificial intelligence (AI) solutions beyond its home market.
UCC Oil and Gas is exploring opportunities to enter additional Venezuelan fields following its recent license to develop the Loran gas project with bp and XRG.
Saudi Arabia has resumed crude oil and refined-product loadings from the Red Sea port of Yanbu after restarting its East-West Pipeline, restoring an important export route that had been disrupted by a drone attack earlier this month, Reuters reported.
Saudi Aramco has notified customers of its October loading schedule from Yanbu, while tanker-tracking data showed that crude loadings had already resumed.
