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G7 Agrees to 100 Million Barrel Oil Release
The coordinated release will run over four months, with a substantial diesel tranche due in the first 20 days.
Sox News Global Desk
· 2 min read
Group of Seven leaders agreed on October 2 to coordinate the release of 100 million barrels of oil stocks through the International Energy Agency. The programme is to begin immediately and run over four months, according to the leaders’ statement.
Leaders said a substantial share of diesel would be released in the first 20 days. They also pledged to avoid energy export restrictions among G7 members and asked the IEA to report on implementation and stock replenishment within 20 days.
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