G7 countries agree on release of diesel and oil stocks after US pressure
USO•G7 countries agreed to release 100 million barrels of diesel and crude oil through the IEA, beginning immediately and lasting four months. The statement calls for a substantial diesel release within 20 days but gives no breakdown by product or country.
1. Coordinated stock release
The G7 said the 100-million-barrel release would begin immediately and last four months, with a substantial diesel release frontloaded within 20 days. The statement did not specify volumes by product or identify participating countries. It said members would refrain from imposing energy-product export restrictions between themselves.
2. Trump welcomes move
President Donald Trump said European countries had agreed to release diesel stocks. The G7 said members would discuss the possibility of additional diesel releases in the coming days. Analysts at Energy Aspects described the statement as political rather than a specific and binding commitment.
