Europe News Who controls Europe’s emergency oil – and when can it be released? National leaders command the valves, the International Energy Agency coordinates global oil volumes, while the European Commission is a vital central switchboard. 05/10/2026
Europe News G7 agrees 100 million-barrel emergency oil release amid US pressure The G7, led by France, announced the release of 100 million barrels of diesel and crude oil after Trump threatened a ban of diesel exports. 02/10/2026
Europe News France weighs emergency oil release as US pressure mounts ahead of G7 France is set to present a plan to release emergency oil stocks following US pressure, with Paris considering a combined release of crude oil and diesel. President Emmanuel Macron will hold a G7 call on Friday. 02/10/2026
Europe News Meloni asks Brussels for fiscal leeway as energy shock squeezes Italy Italian prime Minister Giorgia Meloni is urging the European Commission again to relax the EU's fiscal rules, saying that higher inflation due to soaring energy prices is squeezing households and businesses, according to a letter seen by Euronews. 02/10/2026
Europe News EU holds crisis meeting as US pressure mounts to release emergency oil EU countries and the European Commission are holding talks on Friday that could pave the way for a new emergency oil reserves release, as pressure from Washington mounts. Energy Commissioner Dan Jørgensen told Euronews a fresh emergency release is "a possibility". 02/10/2026
Europe News ‘Releasing strategic reserves is possible,’ EU energy chief says Member states are discussing a coordinated release through the IEA, as the US pressures Europe to put more oil on the market. The Energy Commissioner told Euronews that Brussels can help coordinate the effort. 01/10/2026
Europe News Greece urges EU to loosen fiscal rules as energy crisis deepens High energy prices and military escalation at energy facilities in the Middle East prompted Greek Prime Minister Kyriakos Mitsotakis to ask Brussels for greater fiscal flexibility. Greece has the largest debt among EU countries and is heading to polls in 2027. 01/10/2026