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 aimed at preventing further sharp price increases.

The planned release follows Trump’s threat to impose an export ban, putting the prospect of restrictions on U.S. diesel shipments at the center of the response.

Alongside efforts to curb price spikes, the coordinated action is intended to avert a ban on American diesel exports. The proposal therefore addresses both price pressures and the risk of export restrictions.

The information provided does not specify when the release would begin, how much each country would contribute or how the total would be divided between oil and diesel.