G7 nations will release 100 mil. barrels of oil and diesel fuel after prices soar
WASHINGTON — The Group of Seven industrial nations said Friday that they plan to release 100 million barrels of oil and fuel products in the coming weeks, starting with “substantial” amounts of diesel after the fuel recently hit record high prices in the United States. President Donald Trump said the diesel release would happen “immediately," while a G7 statement promised a “frontloaded…
The G7 nations have announced plans to release 100 million barrels of oil and diesel fuel to address soaring prices, according to The Korea Times. The release will start with a "substantial" amount of diesel within the next 20 days, with the U.S. President Donald Trump confirming the action on social media. The decision comes amid rising diesel prices in the U.S., currently averaging $6.37 per gallon, and has been attributed to the Iran war and trade disputes.
The move aims to alleviate pressure on President Trump, whose approval ratings on the economy have hit a new low, as reported by an AP-NORC poll.
Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
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