G-7 nations will release 100 million barrels of oil, diesel as prices soar
Summary
The G-7 industrial nations have agreed to release 100 million barrels of oil and diesel to address rising fuel prices. The decision includes the immediate release of substantial amounts of diesel following record high prices in the U.S. The action was announced by President Donald Trump on social media, amid pressure from his Republican Party ahead of the November 3 midterm elections. The release is part of an effort to stabilize energy markets and reduce the impact of high fuel costs on consumers. The agreement involves multiple countries working together to manage the supply of fuel products.
Latest: On the latest day, the G-7 nations confirmed their agreement to release 100 million barrels of oil and diesel in response to rising fuel prices.
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How it unfolded
Friday 2 October
On the latest day, the G-7 nations confirmed their agreement to release 100 million barrels of oil and diesel in response to rising fuel prices.