G7 Moves to Release 100 Million Barrels to Counter Diesel Crisis

The G7 and its partners have agreed to release as much as 100 million barrels of emergency diesel and crude stocks over the next four months, putting government inventories into a fuel market that has been running short of refinery output for months. French President Emmanuel Macron said Friday that the release would be coordinated through the International Energy Agency, with an emphasis on diesel. European countries had discussed releasing 50 million barrels of diesel while IEA members would supply another 50 million barrels of crude. President…