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France Released 12.5mn Barrels From Strategic Stockpiles

OIL

France has released so far more than 12.5mn barrels of crude oil and refined products from its strategic stockpiles according to a Bloomberg source.

  • As of this morning, a total of 3.145m bbl of crude oil had been released since the week of 6 March, according to a Bloomberg calculation.
  • Releases of gasoline/diesel and jet fuel remained unchanged from last week, pointing to an improved fuel supply situation.
  • Since the beginning of the strike, around 6.92mn barrels of gasoline and diesel has been released and 2.52mn barrels of jet fuel.
  • According to France’s Transition Ministry, the nation has released strategic stockpiles in a targeted manner since the start of March.

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