G7 plans to release up to 100M barrels of oil
The leaders of the G7 countries have agreed to inject 100 million barrels of oil and diesel from their strategic reserves into the market over four months, aiming to lower energy prices. This move comes after the United States intensified pressure on Europe to release its reserves, with hints of possibly banning diesel exports, while confirming that no export restrictions will be imposed among member countries. The plan includes starting the release immediately with strong execution in the first twenty days, and both sides are prepared to review the approach based on market developments.
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