Shafaq News- Paris

G7 countries agreed on Friday to release 100 million barrels of diesel and other energy reserves over four months to ease pressure on global markets, with a substantial diesel drawdown planned within the first 20 days.

The operation will begin immediately and be coordinated through the International Energy Agency (IEA), according to a joint statement issued by French President Emmanuel Macron’s office.

If distributed evenly, the overall volume would average roughly 830,000 barrels per day, although the initial focus on diesel means supplies will not enter the market at a uniform rate.

Déclaration du Président @EmmanuelMacron qui vient de réunir en visioconférence les dirigeants du G7 sur la situation énergétique mondiale. pic.twitter.com/8lR4jo4eX2

— Élysée (@Elysee) October 2, 2026

Reuters had reported that EU members were considering a French proposal for European countries to release 50 million barrels of diesel, alongside 50 million barrels of crude from IEA members. Washington, however, had sought a faster drawdown, pressing major European countries, including France and Germany, to make 100 million barrels of diesel available within 20 days and warning that failure to tap their reserves could trigger restrictions on US diesel exports.

European Commission spokesperson Anna-Kaisa Itkonen pushed back against the pressure, arguing that an export ban would benefit neither side and undermine the EU’s trust in the United States as a reliable partner.

G7 members also pledged to avoid restrictions on energy trade within the group and increase refinery output where feasible.