G7 nations will release 100 million barrels of oil and diesel fuel after prices soar
The Group of Seven industrial nations said Friday that they plan to release 100 million barrels of oil and fuel products in the coming weeks, starting with "substantial" amounts of diesel after the fuel recently hit record-high prices in the United States.
TL;DR
- G7 industrial nations plan to release 100 million barrels of oil and fuel products.
- The release will begin in the coming weeks.
- Substantial amounts of diesel will be released first.
- This action is a response to record-high diesel prices in the US.