G7 nations will release 100 million barrels of oil and diesel to combat high prices
The Group of Seven countries plan to release crude oil and diesel from stockpiles held for emergencies over a period of months in an attempt to lower energy costs.
The reporting says the decision followed pressure from United States President Donald Trump.
The recent rise in worldwide oil and diesel costs is linked in the reporting to two conflicts: the war involving the United States and Israel against Iran, and Russia's war against Ukraine.
The amount to be released is described differently in the materials available.
A CBS News headline refers to 100 million barrels to address high prices, while the Al Jazeera report refers to 100 billion barrels.
Where this came from
CBS News did not allow its article to be shown here. This version was written by Sureno, in its own words, from other reporting:
- Al Jazeera — G7 nations to release oil and diesel stocks, will it bring down the prices?