17 Hrs
Source:
الاقتصادية
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G7 cuts 100 million barrels from oil reserves
The Group of Seven countries have committed to releasing up to 100 million barrels of oil and diesel reserves over the next four months, aiming to lower fuel prices. This move comes in response to pressure from the Trump administration, which had threatened to impose a ban on diesel exports—an action that could have jeopardized supply to Europe, a region heavily dependent on imports. This decision follows a previous plan to release 400 million barrels in March, which Trump criticized Europe for not quickly providing those supplies. He expressed a positive outlook on the latest step, while the diesel premium over oil has decreased, indicating a reduction in supply shortages.
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