23 Hrs
Source:
وكالة مدار نيوز
G7 plans 100 million barrel oil release
The leaders of the G7 have agreed to inject up to 100 million barrels of diesel and crude oil from their reserves over the next four months, in an effort to ease pressures on fuel prices. Large quantities of diesel will be released into the markets over the coming twenty days, with no export restrictions among member countries, amidst rising oil prices resulting from the US-Israeli war against Iran and conflicts in the Middle East. Oil prices have fallen significantly, with Brent crude dropping below $100 per barrel, while the European Commission warned against banning US diesel exports, as it could undermine the partnership with the United States, given that Europe depends on imports from the US for 50% of its supply. This move aims to address the diesel shortage caused by external conflicts, amid a turbulent market situation and geopolitical tensions affecting energy supplies.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)