Responding to fuel supply disruption, the G7 and its partners agreed to release up to 100 million barrels of emergency oil and diesel stocks over four months, Bloomberg reported on 2 October.[7] French President Emmanuel Macron said the International Energy Agency would coordinate the release, with the aim of lowering fuel prices.[7]
The official G7 statement calls for the programme to begin immediately, with a substantial diesel release during the first 20 days.[10] Leaders also pledged to avoid restrictions on energy exports between G7 countries and to coordinate refinery maintenance to prevent simultaneous shutdowns.[10]
Bloomberg reported that European diesel prices and Brent crude futures fell after the announcement.[7] Diesel's premium over crude dropped as low as $69 a barrel, compared with $76.77 on the previous day, according to fair value data compiled by Bloomberg.[7]
The release does not necessarily add 100 million barrels to the earlier emergency programme.[7] The G7 statement links the measure to implementation of March commitments, while Bloomberg notes that the total may include barrels not yet made available under that plan.[7][10] Leaders asked the IEA to report on implementation before 20 days and said they would discuss further diesel releases if needed.[10]
Sources: [7] https://gcaptain.com/g7-to-release-up-to-100-million-barrels-of-diesel-crude [10] https://www.pm.gc.ca/en/news/statements/2026/10/02/g7-leaders-statement-global-energy-security-and-market-stability