G7 to release 100m barrels of diesel and crude under pressure from Trump
G7 nations have agreed to release 100 million barrels of diesel and crude oil from strategic reserves following pressure from U.S. President Donald Trump. The move aims to lower fuel prices ahead of the U.S. midterm elections.
Why it matters
The coordinated release of oil reserves is a significant geopolitical intervention intended to influence energy markets and domestic political outcomes.
G7 countries have agreed to release 100 million barrels of diesel and crude oil from their strategic reserves, bowing to mounting pressure from US President Donald Trump.
The decision comes as Trump attempts to bring down high diesel prices for US drivers ahead of November’s midterm elections, which will determine control of Congress.
G7 leaders said on Friday that they would release 100mn barrels of refined products including diesel, co-ordinated by the International Energy Agency (IEA), “in light of ongoing market pressures”.
“Taking into account commitments that have already been fulfilled,” they said, referring to a pre-existing pledge from March, “we will implement our commitments with co-ordinated release through the IEA of 100 million barrels (MB) to begin immediately over 4 months”.
Also covering this story
13 other newsrooms covered this event. We read each version separately.
Britain in talks with European allies over release of emergency diesel stockpiles
Petrol price goes up again in October, diesel remains the same
Watch: Why has UK diesel price hit an all time high?
Petrol set to smash R30/litre next week; diesel may also hit record high
Diesel hits £2 a litre in UK for first time, RAC says, as US pressures Europe to release reserves
US tells France and Germany to release diesel stocks or face US export ban
Trump threatens diesel export ban unless France and Germany release emergency reserves
EU nations to hold emergency meeting on diesel prices
G7 Nations To Release 100 Million Barrels Of Oil Amid Fuel Price Surge
EU ‘fully rejects’ US threat to ban diesel exports unless bloc releases more fuel stocks
G7 nations agree to release 100 million barrels of oil, including diesel, boost for Trump
US weighs diesel export ban, urges Europe to release reserves
G7 to Coordinate Release of 100 Million Barrels from Oil Reserves, Front
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