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G7 Agrees to Release Oil Reserves to Lower Fuel Prices After US Pressure

G7 nations agreed to release 100 million barrels of diesel and crude reserves over four months after pressure from Trump.

J

Julie

INTERMEDIATE
1 min read
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G7 Agrees to Release Oil Reserves to Lower Fuel Prices After US Pressure

G7 countries agreed to release up to 100 million barrels of diesel and crude oil from emergency reserves over four months, beginning immediately. The action, organized through the International Energy Agency, aims to ease fuel prices and stabilize energy supplies. Leaders also pledged to coordinate refinery maintenance and avoid energy export restrictions among members. The decision followed pressure from the Trump administration, which urged allies to share the burden of a diesel shortage. Analysts said the release may provide price relief

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