G7 to release 100 million barrels of diesel and other reserves through IEA

The G7 group of nations will undertake a ⁠co-ordinated release ⁠of 100 million barrels of diesel and other reserves ⁠through the International Energy Agency (IEA) to try and stabilise world energy markets, according to a joint G7 leaders’ statement on ⁠Friday.

“We ⁠will implement our commitments with a coordinated release through the IEA of 100 million barrels to begin immediately ⁠over 4 months, including a frontloaded substantial diesel release within the first 20 days by ⁠G7 ‌members ‌and partners,” said the ⁠statement, ‌released by the office of ⁠French President Emmanuel ⁠Macron.