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G7 plans coordinated emergency oil release of 100 million barrels
The release is set to start immediately and run for about four months, after Trump threatened limits on U.S. diesel exports amid record domestic fuel prices.
OilPrice reports that G7 leaders announced a coordinated release of 100 million barrels of emergency oil stocks through the International Energy Agency.
The plan, which follows pressure tied to U.S. President Donald Trump, is scheduled to begin immediately and be completed over the next four months.
According to OilPrice, Trump had threatened to ban U.S. diesel exports in an effort to curb record-high domestic fuel prices ahead of the November 2026 midterm elections.
The outlet also notes the focus on diesel pricing, with the threatened export restriction aimed at lowering costs for U.S. drivers and households.