G7 agrees emergency release of 100 million barrels to ease diesel squeeze

G7 countries agreed on October 2 to release 100 million barrels of strategic oil reserves over four months, coordinated through the International Energy Agency, with a large diesel share required within the first 20 days. The move follows an overnight call between Macron and Trump, after Washington threatened a diesel export ban amid a supply squeeze that has pushed pump prices to records. Officials caution that releasing crude does not instantly produce diesel, so the relief European drivers see this winter depends on refinery capacity nobody can simply order into existence.

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