G7 Countries Agree to Release 100 Million Barrels of Oil and Diesel Stocks
Brussels, 3 October, 2026 (Ghufran): Group of Seven (G7) countries have agreed to release 100 million barrels of diesel and crude oil from emergency reserves and pledged to refrain from imposing energy export restrictions among member states following pressure from US President Donald Trump. The United States had urged European countries to draw down emergency diesel inventories, with the Trump administration ,that failure to act could result in restrictions on US diesel exports. Trump later said the United States would not impose a diesel export ban, despite previously saying the measure was under consideration. In a joint statement, the G7 said the release would be coordinated through the International Energy Agency (IEA), taking into account commitments already fulfilled. The ...





