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October 3, 2026

G7 countries to release up to 100 million barrels of diesel and crude oil reserves – NBC News

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What we know

  • G7 countries have agreed to release up to 100 million barrels of crude oil and diesel from emergency reserves to stabilize global fuel prices.
  • The coordinated release includes contributions from the U.S. and allied nations amid ongoing supply concerns and market volatility.
  • Some European officials have criticized U.S. demands for increased diesel supplies during the coordination process.
  • The move aims to ease inflationary pressures related to energy costs worldwide.
  • Analysts caution that the release may provide only temporary relief to fuel prices.

Live updates

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