Key developments: The G7 confirmed a coordinated release of 100 million barrels of oil products over four months, with a front-loaded diesel release planned within the first 20 days. President Trump said Europe would begin releases "immediately" after calls with French President Emmanuel Macron and other leaders. The G7 urged countries to avoid export restrictions as U.S. diesel price spikes continue to strain schools, farmers and small businesses.
G7 Agrees To Release 100 Million Barrels Of Diesel; Trump Says Europe Will Start "Immediately"
Trump says Europe will release "massive amount" of diesel oil from stockpiles
President Donald Trump announced that European leaders have agreed to release a "massive amount" of diesel from their reserves to help ease high fuel prices after an emergency Group of Seven video conference convened Friday.
The Élysée Palace released a joint G7 statement confirming a coordinated release of 100 million barrels of oil products to be distributed over a four-month period. The statement said there will be a front-loaded, substantial diesel release within the first 20 days by G7 members and partners to provide immediate market relief.
Mr. Trump said Europe would begin the releases "immediately." On Truth Social he wrote:
"Europe has just agreed to release a massive amount of their heavily stocked Diesel Oil. The process will begin immediately. Thank you for your attention to this matter!"
A White House official said Mr. Trump spoke with French President Emmanuel Macron overnight and then with G7 leaders Friday morning to press for the coordinated release. Fatih Birol, executive director of the International Energy Agency, posted a photo of the leaders' conference call.
Export Restrictions and Market Concerns
The G7 statement also urged countries to refrain from export restrictions on energy and energy products, warning such measures could exacerbate market tensions. That language appears directed at global market stability rather than any single leader, though it follows Mr. Trump's recent public threats to consider banning U.S. diesel exports.
Mr. Trump had previously said he had "called for" a U.S. diesel export ban, a step analysts warned could push global prices higher. On Friday he downplayed that prospect, telling reporters on the White House South Lawn that a ban "was never really on the table."
Domestic Impact
In the United States, soaring diesel costs are rippling through the economy: schools, farmers and small businesses face growing fuel bills. Farmers who rely on diesel to run agricultural machinery, as well as construction firms, food banks and delivery services, have reported sharply increased operating costs.
Officials and market observers will watch closely to see how quickly the announced releases reach markets and whether the size and timing of the supply injections are sufficient to ease price pressure.
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