The G7 countries have agreed to release 100 million barrels of oil, according to SVT Nyheter. The decision involves drawing on diesel reserves held by the member nations, SVT Nyheter reports.
French President Emmanuel Macron said the G7 had reached an agreement to use the diesel stocks, according to SVT Nyheter. U.S. President Donald Trump also commented on the move, saying that the EU would release oil, Aftonbladet reports. Dagens industri, citing Trump, reported that Europe would free up its diesel reserve.
The releases come as diesel prices have fallen sharply in Europe, according to EFN. The price drop was reported alongside the announcements from the G7 leaders.
The reporting does not specify the timeline for the releases or how the barrels will be distributed among the member countries. It also does not detail the size of the diesel reserve portion versus other oil stocks.
The coordinated action involves multiple G7 members, with both Macron and Trump publicly confirming elements of the plan. SVT Nyheter, Aftonbladet, Dagens industri and EFN all covered the developments.
What to watch next: whether the G7 provides further details on the timing and volume of the releases, and how diesel prices in Europe respond in the coming days.
