G7 to release 100 million barrels of oil and diesel, will it curb prices? - Al Jazeera
The G7 nations have agreed to release 100 million barrels of oil and diesel from their emergency reserves to combat rising energy costs. This coordinated effort aims to stabilize global markets following recent price spikes.
Why it matters
The release of strategic reserves is a significant economic intervention intended to mitigate inflation and energy supply chain disruptions.
The Group of Seven (G7) countries have agreed to release 100 billion barrels of crude oil and…
Also covering this story
5 other newsrooms covered this event. We read each version separately.
Persian Gulf oil exports exceed 16 million barrels per day - OilPrice
Hormuz blocked, but Gulf crude shipments at pre-war level
West Asian crude oil exports exceed pre-war levels but tanker attacks increase
IEA: 325 million barrels of oil from strategic reserves released to ease Middle East energy crisis
325m barrels released from oil reserves since March
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in