Macron: G7 reserves of up to 100 million barrels of diesel and crude oil to be released over four months
(Il Sole 24 Ore Radiocor) - “We have decided to release strategic reserves of diesel and crude oil, under the coordination of the International Energy Agency, in order to bring up to 100 million barrels onto the market over the next four months.” This was announced by French President Emmanuel Macron at the conclusion of a meeting of G7 heads of state and government.
The aim is to ease the pressure on fuel prices. “These decisions should bring prices down,” added Macron, explaining that the measures will apply to both diesel and crude oil. The G7 countries have also agreed to avoid restrictions on energy trade within the group. “We have agreed that there will be no restrictions or bans on exports between G7 members,” the French President clarified. The French President noted that his American counterpart, Donald Trump – who had threatened to cut gas exports from the United States – had also been “very clear on this point”.
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