Under pressure from Washington, G7 approves emergency release of 100 million barrels of oil

The Group of Seven most industrialized countries, led by France, announced a decision to release 100 million barrels of crude oil and diesel from strategic reserves, following warnings by US President Donald Trump that fuel exports could be halted.

The G7 member states have agreed to withdraw up to 100 million barrels from their strategic stocks over a four-month period, in a coordinated effort to ease rising energy prices, with particular attention to diesel.

The operation will be coordinated by the International Energy Agency. According to the G7’s official announcement, a significant portion of the diesel volume will be available within the first 20 days after the process begins.

French President Emmanuel Macron, who currently holds the rotating G7 presidency, stressed that the countries had reached an understanding to act jointly to ease pressure on energy prices.

“Our commitments will be implemented through a coordinated release, under the leadership of the IEA, of 100 million barrels, beginning immediately and extending over four months,” the joint statement said.

The move comes amid mounting pressure from the White House for countries to open their strategic reserves, at a time when diesel prices are rising and supply is tightening.

Earlier on Friday, the European Commission had responded to what it described as “threats” by the United States to push European countries into taking action.

However, a telephone conversation held overnight between Macron and US President Donald Trump appears to have played a role in persuading Paris to take the decision, amid fears over the consequences of a possible US embargo on diesel exports.

The package approved by the G7 also includes initiatives to increase refinery production and a commitment not to impose restrictions on energy and oil-product trade between partner countries.

If the 100 million barrels were distributed evenly over four months, this would amount to around 830,000 barrels per day.

However, the actual impact will depend on the pace at which countries release their reserves and the share of the oil that can ultimately be converted into diesel.

Releasing crude oil from strategic stocks does not immediately provide additional diesel supplies. Refineries must first process the raw material, while processing capacity, logistics chains and the quality of the oil made available determine the amount of fuel that reaches the end consumer.

The release could provide relief ahead of the winter season, a period during which demand for diesel and other refined products usually increases.