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 move following Trump’s threat to impose an export ban.

The planned release aims to prevent further sharp price increases by making additional supplies available to the market.

It is also intended to avert a ban on US diesel exports, placing access to fuel supplies at the center of the response.

The proposal links the G7’s effort to contain prices with an attempt to keep US diesel flowing to international buyers. Details of the release timetable and individual countries’ contributions were not provided.