G7 Plans Release of 100 Million Barrels of Oil and Diesel After Trump Export Ban Threat

The Group of Seven plans to release 100 million barrels of oil and diesel in a coordinated effort to prevent further sharp price increases following Trump’s threat to impose an export ban.

The planned release is also aimed at averting a ban on US diesel exports, placing the availability of fuel supplies at the center of the group’s response.

By making additional oil and diesel available, the G7 initiative seeks to ease pressure on prices while avoiding restrictions on the flow of American diesel to overseas markets.

The plan links two immediate priorities: limiting further price spikes and keeping US diesel exports moving. Details of the release schedule and individual countries’ contributions were not provided.