G7 nations will release 100 million barrels of oil and diesel to combat high prices
G7 countries have agreed to release 100 million barrels of oil and fuel products, starting with diesel. Joe Brettell, founder and principal of Forward Energy, joins CBS News to discuss.
The G7 countries have agreed to release 100 million barrels of oil and fuel products. The release will start with substantial amounts of diesel.
The national average for a gallon of diesel in the US was $6.37, according to AAA. Diesel prices have hit records in Europe as well.
The G7 countries, including the US, UK, Canada, Japan, Germany, Italy, and France, have also agreed to refrain from export restrictions on energy and energy products on one another. The release of diesel will begin immediately, with the rest to be released over four months, according to The Mainichi.
Brief written by urgent.news from CBS News, The Mainichi, The Island Sri Lanka — 3 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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