The Group of Seven (G7) has set a four-month schedule for a coordinated release of 100 million barrels of oil and fuel products, with substantial diesel supplies to be released within the first 20 days.
The leaders announced the timetable on Friday, October 2, 2026, following a virtual meeting on energy security and rising fuel prices.
Okay News reports that the joint statement, published by the French presidency and the British government, places the release within the implementation of commitments made in March 2026, taking account of commitments already fulfilled. It does not present the entire volume as an additional pledge.
The International Energy Agency (IEA) will coordinate the release, which the leaders said would begin immediately. They also plan discussions on further diesel releases if needed.
G7 members reaffirmed their commitment to avoid restrictions on energy exports to one another. They will coordinate refinery maintenance and increase utilisation where feasible to support fuel supplies.
The leaders asked the IEA to monitor implementation and the effects on energy security and market stability, with a follow-up report due before the 20-day mark.
