Macron says G7 agrees to release diesel and crude stocks over four months
The announcement follows a G7 call on fuel prices and refined product supply held the same day
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Chart: USO, a fund that tracks crude, one-minute prices, three sessions
UpdateFriday, October 2, 2026 at 10:27 AM ET
The published piece said Macron gave no volume for the release; the G7 has since specified a total of up to 100 million barrels, with an early tranche in the first 20 days.
G7 leaders now put a figure on the release: as much as 100 million barrels of diesel and crude over the four-month period, with an early tranche to go out within the first 20 days. The group also pledged not to restrict energy exports among its own members. Contributions by individual country remain undisclosed.
UpdateFriday, October 2, 2026 at 10:26 AM ET
The published piece said Macron gave no volume figure; he has now put the release at up to 100 million barrels and added a refinery maintenance plan.
Macron said the G7 will unveil plans to release as much as 100 million barrels of diesel and crude oil. He said the group will also declare plans to align maintenance schedules at member countries' refineries.
President Emmanuel Macron said the G7 has decided to release diesel and crude oil stocks over a four-month period. He did not give the volume of barrels involved or how the release would be split among member countries.
The decision follows a G7 call on fuel prices and refined product supply that Macron set up after separate talks with Donald Trump and Mark Carney. France had proposed a release of 50 million barrels each of diesel and crude among IEA members, pairing the two products as Europe weighs options on tight winter fuel supply. Washington had separately asked European countries to release 120 million barrels over six months, and the EU's energy taskforce had been discussing a release of diesel stockpiles of its own.
The four-month timeframe gives a stated duration to a G7 discussion that had so far produced intent rather than detail, and it marks a shift from the Strait of Hormuz coalition-building Macron pushed in September toward direct management of fuel inventories. The scale of barrels involved and each country's individual contribution remain unspecified, leaving open how the four-month period will be filled in.