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G7 nations agree to release 100 million barrels of oil, including diesel, amid energy crunch

The release would begin immediately and take four months, starting with a "substantial" diesel release within the first 20 days. Diesel prices have soared globally due to the oil supply crunch brought on by fighting in the Middle East between the U.S. and Iran.

G7 nations agree to release 100 million barrels of oil, including diesel, amid energy crunch

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G7 Moves to Release 100 Million Barrels to Counter Diesel Crisis

The G7 and its partners have agreed to release as much as 100 million barrels of emergency diesel and crude stocks over the next four months, putting government inventories into a fuel market that has…

  • G7 to release up to 100 million barrels of emergency diesel over four months
  • Coordinated through International Energy Agency (IEA), focusing on diesel
  • U.S. President Donald Trump supports initiative and U.S. diesel export restrictions

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