G7 agrees to release 100 million barrels of oil and diesel to curb price spikes and avert a possible U.S. diesel export ban, aiming for market stability.

The Group of Seven agreed to release 100 million barrels of oil and diesel from member strategic reserves.

The drawdown is intended to dampen recent price spikes and to prevent a potential ban on U.S. diesel exports that President Donald Trump has threatened.

Trump’s warning came after domestic diesel inventories fell sharply, prompting the White House to consider restricting shipments abroad. The G7 said the coordinated release will help keep global supply steady while the United States evaluates its export policy.

Member countries will tap national stockpiles over the coming weeks. The combined volume represents roughly one‑tenth of the reserves held by the United States alone, according to publicly available data.

A G7 spokesperson said the action reflects “a shared commitment to market stability and to avoiding abrupt policy shifts that could disrupt trade flows.” The statement added that the release will be monitored for its effect on spot prices.

Analysts noted that the move could lower benchmark crude prices by a few cents per barrel and ease diesel price pressure in Europe and Asia. Traders have already adjusted forward contracts in response to the announcement.

U.S. officials have not confirmed whether the export ban will be enacted. The G7’s pre‑emptive measure underscores the group’s willingness to act collectively when supply‑side shocks threaten the global energy market.