UPDATE 1 — IEA to decide on details of diesel stocks release next week as market confusion grows
G7 agreed to release 100 million barrels last week IEA board expected to discuss release details October 14-15 EU oil co-ordination group meets Wednesday to set bloc position (Adds EU meeting planned in paragraph 8, comments from Vitol CEO in paragraphs 12-14, background) By Giuseppe Fonte, Kate Abnett and Alex Lawler ROME/LONDON, Oct 6 (Reuters) — The West's energy watchdog will meet next week to work out the details of a diesel stock release as market confusion grows over how many barrels Europe and the US plan to make available to address shortages and record-high prices, sources said. Under pressure from US President Donald Trump, the Group of Seven major economies agreed on Friday to release 100 million barrels of diesel and crude oil from emergency reserves and pledged to refrain from energy export restrictions. They did not provide a breakdown of the volumes of crude, diesel and other products to be released, however, or say which countries would participate. The governing board of the International Energy Agency, which advises industrialised countries and manages their strategic oil reserves, is expected to decide the details of the stocks release at an October 14-15.