Daily Market Updates: G7 plans release of up to 100 million barrels to ease diesel shortages

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G7 plans release of up to 100 million barrels to ease diesel shortages

The coordinated release would run over the next four months via the International Energy Agency, drawing from emergency diesel and crude stocks.

Reported · Written up by our desk · Energy

The G7 and partner governments have agreed to release as much as 100 million barrels of emergency diesel and crude stocks over the next four months to help address a diesel crisis, OilPrice reported.

The move would put government inventories into a fuel market that has faced short refinery output for months, according to the report.

French President Emmanuel Macron said the releases will be coordinated through the International Energy Agency, with an emphasis on diesel, OilPrice added.

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G7 plans release of up to 100 million barrels to ease diesel shortages

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