G7 plans oil and diesel supply offers of up to 100 million barrels, Macron says
G7 plans oil and diesel supply offers of up to 100 million barrels, Macron says G7 countries plan to offer one another up to 100 million barrels of crude oil and diesel over four months, French President Emmanuel Macron says. Members also agreed to keep diesel exports flowing within the group, with Macron saying they would impose “no ban” on those shipments. “It has been agreed to continue…
G7 countries plan to offer each other up to 100 million barrels of crude oil and diesel over four months, according to French President Emmanuel Macron. The agreement also includes keeping diesel exports flowing within the group, with Macron stating that they would impose "no ban" on those shipments.
Macron also mentioned that the group agreed to continue coordinating actions to facilitate the exit of shipments from the Strait of Hormuz. This comes after US President Donald Trump announced that Europe would release a "massive" quantity of diesel from its reserves.
France has urged coordinated action without export curbs, while EU countries consider releasing additional diesel and crude reserves, amid surging fuel prices. A G7 leaders' call on the issue is planned.
Brief written by urgent.news from Middle East Eye, Live Mint — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
