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G7 countries will release 100 million barrels from strategic reserves over four months, with a major diesel release planned in the first 20 days.
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Moneycontrol•02-10-2026, 20:51
Macron, Trump Discuss Iran Crisis as G7 Releases 100 Million Barrels to Stabilize Markets
  • •French President Emmanuel Macron and US President Donald Trump discussed the Iran crisis and Strait of Hormuz disruption, impacting global energy markets.
  • •G7 nations agreed to release 100 million barrels from strategic reserves over four months, with a substantial diesel release in the first 20 days.
  • •The International Energy Agency (IEA) will coordinate the immediate release, with G7 members and partners frontloading diesel supplies.
  • •The agreement follows US pressure on European countries to release strategic diesel stocks to ease fuel market pressures.
  • •G7 also called for full restoration of navigational rights in the Strait of Hormuz and will coordinate refinery maintenance to increase production, especially diesel.
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Key Questions Answered

The G7 countries agreed to release 100 million barrels of oil from strategic reserves over a four-month period to ease pressure on global energy markets.

Diesel supplies have been strained by the US-Iran conflict, Russian restrictions on diesel exports, and China's suspension of fuel-product exports for October.

The International Energy Agency (IEA) is coordinating the immediate release of reserves, with G7 members and partners frontloading a substantial diesel release within the first 20 days.

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