G7 Countries to Release Up to 100 Million Barrels of Emergency Oil, Diesel Stocks

10:32 AM EDT, 10/02/2026 (MT Newswires) -- The Group of Seven nations will release up to 100 million barrels of emergency oil and diesel stocks over the next four months to help ease surging fuel costs, French President Emmanuel Macron said Friday. In a statement published by France's Élysée Palace, the coordinated release through the International Energy Agency includes a "frontloaded substantial" diesel release in the first 20 days by the G7 countries and partners. "We reaffirm our commitment to refrain from export restrictions on energy and energy products between G7 countries and call on all producers to refrain from imposing bans that could exacerbate market tensions," the statement noted. The group comprises France, Germany, Italy, Canada, Japan, the UK and the US.