Get all your news in one place.
100's of premium titles.
One app.
Start reading
The Economic Times
The Economic Times
Business

G7 nations agree to release 100 million barrels of oil, including diesel, a boost for Trump

The Group of Seven industrial nations said they agreed to release 100 million barrels of oil, starting with "substantial" amounts of diesel after the fuel recently hit record high prices in the United States, where President Donald Trump said the diesel release would happen "immediately."

Trump and his Republican Party face pressure to address surging prices ahead of November's midterm elections. Trump announced the action Friday on social media, saying, "Europe has just agreed to release a massive amount of their heavily stocked Diesel Oil. The process will begin immediately."

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.