World
G7 agrees to release 100 million barrels from energy reserves
G7 leaders agreed on 2 October to coordinate the release of 100 million barrels of oil and petroleum products through the International Energy Agency over four months.
G7 leaders agreed on 2 October to coordinate the release of 100 million barrels of oil and petroleum products through the International Energy Agency over four months.
Their joint statement calls for substantial diesel releases within the first 20 days and reaffirms a commitment against energy export restrictions between members. Reuters, AP and The National report the agreement. The announced release is intended to ease supply pressure; it does not guarantee a particular retail price.
