Emergency Oil Release

G-7 nations agree to release 100 million barrels of emergency oil to lower fuel prices

The Group of Seven major economies has agreed to release 100 million barrels of crude oil and fuel from their emergency stocks within four months, in an effort to reduce the price of diesel and other fuels. The decision was made by French President Emmanuel Macron and not to restrict oil exports. The reserve release will aim to bring down oil product prices, particularly diesel.

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