WorldPosted at: Oct 2 2026 10:58PM


Trump says Europe agreed to release a 'massive amount' of diesel from stockpile amid global shortage

Washington, Oct 2 (UNI) US President Donald Trump said European countries had agreed to release a "massive amount" of diesel from their stockpiles to ease rising prices, following an emergency meeting of G7 leaders on Friday.
The video conference was convened to discuss fuel supplies and prices, after an overnight call between Trump and French President Emmanuel Macron. Trump said the release of European diesel reserves would begin "immediately".
"Europe has just agreed to release a massive amount of their heavily stocked Diesel Oil," he wrote on Truth Social.
A joint statement issued by the Élysée Palace in Paris confirmed that G7 members and partners would coordinate the release of 100 million barrels over four months. The plan includes a substantial initial release of diesel within the first 20 days.
A White House official said Trump had spoken to Macron on Thursday night and held discussions with G7 leaders on Friday morning to negotiate the release. Fatih Birol, executive director of the International Energy Agency, also shared a photograph of the video conference.
The G7 comprises the US, Canada, France, Germany, Italy, Japan and the UK, with the European union participating as a non-enumerated member.
The agreement comes as Trump has threatened to ban US diesel exports, a move that could push global prices higher. The G7 statement did not mention the threat but urged members to avoid export restrictions.
"We reaffirm our commitment to refrain from export restrictions on energy and energy products between G7 countries and call on all producers to refrain from imposing bans that could exacerbate market tensions," the statement said.
In the US, rising diesel prices have increased costs for schools, farmers and small businesses. Farmers rely on the fuel to operate agricultural machinery, while construction companies, food banks and other enterprises have reported higher expenses for running vehicles and delivery trucks.
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