G7 agrees coordinated emergency release of up to 100 million barrels of oil and diesel reserves
The Group of Seven has agreed to release up to 100 million barrels from emergency crude oil and diesel stockpiles within four months, in a coordinated move aimed at easing surging fuel prices. France's President Emmanuel Macron said the drawdown will be organised through the International Energy Agency and that the first 20 days will see a front-loaded diesel release. The announcement followed a leaders' video meeting chaired by Macron, who said the aim was to help bring down the price of petroleum products, especially diesel.Macron said G7 members and partners had committed to act in a coordinated manner and... [Continue Reading]
360LiveNews | 02 Oct 2026 17:59 LONDON
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Meloni joins extraordinary G7 talks on energy security and market stability
Italian Prime Minister Giorgia Meloni took part today in an extraordinary video conference of G7 leaders focused on energy security and the stability of energy markets. The leaders agreed on a coordinated response to volatility in those markets. During her intervention, Meloni said she presented steps taken by the Italian government to reduce the impact of higher prices on families and businesses. She cited a fuel price cap obtained from the main oil companies, interventions on excise duties, and proposals Italy has put forward to the European Commission. Meloni also backed coordinated action on stockpiles, with a specific focus on... [Continue Reading]
Breaking-360LiveNews | 02 Oct 2026 16:01 LONDON
