Summary
- Group of Seven countries have agreed to release 100 million barrels of crude oil and diesel from emergency reserves over four months, with a substantial amount of diesel to be released within the first 20 days, the group said Friday.
- The agreement followed pressure from US President Donald Trump, who had urged European countries to release emergency diesel stocks and threatened to restrict US diesel exports if they did not do so.
- Trump welcomed the G7 decision on social media, saying Europe had agreed to release a “massive amount” of diesel from its reserves and that the process would begin immediately.
AI Generated Summary
Group of Seven countries have agreed to release 100 million barrels of crude oil and diesel from emergency reserves over four months, with a substantial amount of diesel to be released within the first 20 days, the group said Friday.
The coordinated release, to be carried out through the International Energy Agency, will begin immediately and is aimed at easing pressure on global energy markets as fuel prices rise.
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