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G7 to release up to 100 million barrels of oil and diesel

G7 to release up to 100 million barrels of oil and diesel

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G7 leaders have agreed to a coordinated release of up to 100 million barrels of diesel and crude oil from strategic reserves. French President Emmanuel Macron announced this after a video conference devoted to rising fuel prices and the situation on the global energy market. Deutschlandfunk ↗

The measure is to be carried out over the next four months. Its aim is to ease supply pressure and help bring down the prices of oil products, especially diesel. Diesel prices in the United States reached new highs in connection with the conflict with Iran. ORF ↗

Macron convened the G7 leaders' meeting on his own initiative. France proposed that countries act jointly and release part of their emergency stocks without restricting exports. According to the announcement, the coordinated approach should help stabilize the global energy market. France24 ↗

U.S. President Donald Trump had previously said that Europe agreed to immediately release a large quantity of diesel from its reserves. Further details on how the volume will be divided among individual countries, or on the exact timetable, have not yet been published. tnlive.sk (Markíza) ↗

The G7 decision is expected to increase the supply of diesel and oil on the market in the coming months. Its impact on fuel prices will depend on the scale of the stock release, the development of supplies, and further developments in the energy situation.

On Record

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„Nenávidia sa."

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