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Policy▲ Bullish for Indian equities
G7 agrees to release 100 million barrels of oil and diesel from emergency reserves
The brief
- G7 countries agreed to release 100 million barrels of diesel and crude oil
- The release will come from emergency reserves
- More oil supply could ease fuel costs for Indian refiners and oil marketing companies
- Oil falls $2 as Europe agrees to release diesel reserves after Trump push
- Trump weighs diesel export ban; Macron rallies G7 leaders over surging energy prices — inside transatlantic energy clash
- Who would be exposed if U.S. bans diesel exports? Goldman weighs in
- UK average diesel pump price hits £2 per litre for first time
- Russia will consider partial lifting of diesel export ban in case of overproduction, Novak says
Diesel export risks and strategic reserve releases
Trump considered a US diesel export ban and threatened one unless Europe released reserves; the proposal could remove about 1.2 million barrels a day from global supply. The G7 agreed to release 100 million barrels of oil and other reserves through the IEA, including frontloaded diesel supply.
Friday, 2 October
- G7 agrees to release 100 million barrels of oil and diesel from emergency reserves