French President Emmanuel Macron said G7 leaders agreed “to work in a coordinated manner to help bring down the prices of petroleum products, particularly diesel.”
Coordinated measures announced
Macron outlined the decisions: “We have decided to: → make production more flexible to produce at the maximum capacity of our refineries, → release our strategic reserves up to 100 million barrels, within 4 months, with our partners, under the coordination of the International Energy Agency, → take no measures to restrict the exchange of energy and petroleum products between partner countries.”
Impact on energy markets
The measures aim to increase supply and maintain open energy exchanges among partner nations, potentially easing pressure on global fuel prices.
