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The French presidency announced on October 20 that President Emmanuel Macron obtained commitments during his Gulf tour for around 100,000 tonnes per month from the United Arab Emirates with a further 100,000 tonnes to be secured in Bahrain later that day. These volumes will be handled by TotalEnergies, which will sign dedicated supply contracts with ADNOC of Abu Dhabi and BAPCO of Bahrain in addition to those already in place with Saudi Aramco. The Elysée Palace described the quantities as significant and noted that shipments would be routed via Oman to bypass the Strait of Hormuz.
With the addition of 95,000 tonnes per month already secured from Saudi Arabia for October and November, France now holds commitments for 295,000 tonnes monthly, according to the presidency. This total represents just over 10 percent of national diesel consumption and is intended to reduce pressure on markets while supporting efforts to lower pump prices. The presidency stated that the combined measures, including releases from strategic stocks, would have an effect on prices although the precise impact could not yet be quantified.
Macron’s tour has taken him to Kuwait, the United Arab Emirates, Bahrain and Qatar as he seeks to reinforce energy security following a weekend of protests over rising living costs. The French leader held talks with leaders in Abu Dhabi before proceeding to Manama, where the additional Bahraini commitment was to be finalised. The presidency indicated that discussions were also under way with regional countries to reduce maritime insurance costs and facilitate greater shipments through the Strait of Hormuz.
The International Energy Agency has warned that the diesel shortage sparked by the US-Iran war that began in February 2026 is likely to persist into the second half of 2027, with global inventories not expected to recover fully before then. Combined net exports of gasoil from the Middle East and Russia have fallen by more than 60 percent, or 1.3 million barrels per day, contributing to wholesale prices that reached record highs near $220 per barrel last month before easing somewhat. European and American diesel stocks have hit multi-year lows, the agency reported.
In response, the French government has committed to releasing 10 million barrels of diesel from strategic reserves between November and January as part of a wider G7 initiative that prioritises diesel supplies. The fuel will be sold at book value with distributors agreeing to pass cost reductions to consumers, the government said, projecting a national average pump price drop of between 0.12 and 0.18 euros per litre. This release equates to roughly 110,000 barrels per day over the period, or about 20 percent of French road diesel demand.
Diesel prices in France have risen 5.4 percent since early August to an average of 2.35 euros per litre while petrol has increased 6.5 percent to 2.16 euros per litre, according to fuel price tracking data. The surge has compounded broader cost-of-living pressures that prompted violent protests over the weekend. TotalEnergies chief executive Patrick Pouyanné said the new arrangements would reassure consumers, adding, “We will not run out of diesel this winter.”
