During Macron's trip, the French presidency said it lined up additional diesel from three Middle Eastern producers. Bahrain and the United Arab Emirates each agreed to send 100,000 tons per month, roughly 746,000 barrels, with no end date specified.
Taken together, the incoming volumes add up to almost one sixth of France's typical monthly diesel use. The government is aiming to dial down the pressure from surging fuel costs.
Saudi Arabia agreed to provide 95,000 tons each month for October and November. Pouyanné told reporters on Tuesday that the Saudi commitment could continue beyond next month.
TotalEnergies SE will sign a supply deal "dedicated to France" with national oil companies, Pouyanné said, arguing the arrangement will "reassure the French," since the country will not be short of diesel this winter. He also said the accord will help Bahrain run its Sitra refinery at a higher rate.
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Diesel has jumped around the world and is feeding higher living costs. Over the weekend, demonstrations in Paris and other cities escalated into violence. Earlier this month, the International Energy Agency pressed its member countries to speed up the release of pledged diesel and to weigh putting additional supply into the market as conditions tighten.
European diesel hovers around 200 dollars a barrel as the war in Iran and Ukrainian strikes on Russian oil refineries roil supply. That compares with roughly 80 dollars at the beginning of the year, and this year refined products have surged far more than crude prices.
The bottom line: France is shoring up winter diesel supply while prices sit near 200 dollars a barrel. That combination, alongside IEA pressure to free up more barrels, shapes near term fuel costs and demand signals for transport, logistics, and energy names tied to refined products.
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