Archive · 3 Oct 2026
G7 Agrees to Release 100 Million Barrels After Trump Threat
The G7 is a group of seven countries that agreed to put oil and diesel from emergency reserves onto the market.
They plan to release 100 million barrels through a coordinated effort.
A large amount of diesel is expected to be released in the first 20 days, with the broader plan lasting four months.
The countries also said they would not restrict energy exports to one another.
President Donald Trump had threatened to stop US diesel exports if Europe did not use some of its emergency supplies.
He later said the export ban would not happen.
The release is meant to ease pressure on fuel supplies and prices.
However, conflicts and risks to shipping routes are still affecting oil markets.
G7 countries, including the United States, agreed to coordinate the release of 100 million barrels of oil and diesel from reserves through the International Energy Agency.
The plan includes a substantial diesel release within the first 20 days, with releases scheduled over four months.
The G7 said members would refrain from energy export restrictions against one another.
Donald Trump stepped back from threatening a US diesel export ban after pressing Europe to draw down emergency diesel inventories.
Oil prices remained elevated amid conflict-related supply concerns; Brent closed Friday at $102.25 a barrel and US West Texas Intermediate at $91.11.
- Who
- The G7 countries, including the United States, and President Donald Trump.
- What
- The G7 agreed to coordinate the release of 100 million barrels of oil and diesel from reserves and avoid energy export restrictions among members.
- When
- The agreement was announced on Friday; releases are planned over four months, with a substantial diesel release within the first 20 days.
- Where
- The agreement involves G7 countries and is intended to ease global supply pressures.
- Why
- To ease pressure on fuel supplies and prices amid conflict-related disruptions and concerns about energy shipping routes.
- Planned reserve release
- 100 million barrels of oil and diesel, coordinated through the International Energy Agency.
- Release schedule
- Over four months, with a substantial diesel release within the first 20 days.
- G7 commitment
- Members said they would refrain from energy export restrictions on one another.
- Trump's position
- He said the US would not impose the threatened diesel export ban and described it as never really on the table.
- Brent crude
- Closed Friday at $102.25 per barrel, down from $102.31 on Thursday.
- US West Texas Intermediate
- Closed Friday at $91.11 per barrel, down from $92.87 on Thursday.
- US role in EU diesel imports
- The International Energy Agency said the US supplied around half of the European Union's diesel imports in August.
