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Croatia decides to release reserve diesel
Croatia’s Minister of Economy, Ant Šušenjarić, said on April 1 that the government has decided to release 35k tons of diesel from its mandatory oil and petroleum product reserves into the market.
Local media quoted Šušenjarić as saying that the amount of diesel released accounts for about 5% of its mandatory reserves, equivalent to the country’s four days of consumption.
The International Energy Agency previously issued a statement saying that 32 member countries agreed to release 400 million barrels of strategic oil reserves to address the global oil supply tightness caused by the military strikes launched by the United States and Israel against Iran.
Croatia is not a member of the International Energy Agency.
Šušenjarić said that the decline in Middle Eastern oil production and the disruption of shipping through the Strait of Hormuz have affected the market.
Croatia’s fuel supply remains stable, and this move is to support other EU member states that have released reserves to help stabilize the market.
(Xinhua News Agency)