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G7 nations agree on diesel, oil stocks release after US pressure

Group of Seven countries agreed on Friday on the release 100 million barrels of diesel and crude oil from emergency reserves in a move cheered…

By Samantha Johnson / October 2, 2026

Group of Seven countries agreed on Friday on the release 100 million barrels of diesel and crude oil from emergency reserves in a move cheered by US President Donald Trump as he seeks help to cool off surging fuel prices linked to ‌the Iran war.

The conflict sparked the biggest emergency stocks release in history in March coordinated by the International Energy Agency.

“Taking into account commitments that have already been fulfilled, we will implement our commitments with a coordinated release through the IEA of 100 million barrels,” the G7 said in a joint statement.

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