G7 to release 100M barrels from reserves
The member countries of the G7 have agreed to release up to 100 million barrels of diesel and crude oil from their reserves over the next four months, with the goal of calming the oil markets and reducing the surge in fuel prices. This measure will be implemented in phases, focusing on releasing large quantities of diesel over the next twenty days, with the possibility of releasing additional stocks. It was also agreed not to impose any restrictions or bans on oil exports among the member countries. U.S. President Donald Trump praised Europe's coordination in releasing its diesel reserves without imposing an export ban, while the European Commission warned that an export ban could undermine the partnership with Washington.
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