October 2, 2026
French President Emmanuel Macron announced that the leaders of the Group of Seven countries agreed to pump 100 million barrels of crude oil and diesel from their strategic reserves to global markets during the next four months, with the aim of curbing rising fuel prices.
Macron explained, in statements after chairing talks to coordinate joint action on energy prices, that the pumping process will take place in a coordinated manner through the International Energy Agency, and that its implementation will begin immediately and extend over a period of four months.
In the same context, the French President confirmed that it was agreed among the group’s leaders not to impose any restrictions or bans on intra-G7 exports, noting that his American counterpart, Donald Trump, was very clear on this point.
Macron stressed that these agreed-upon decisions and measures will directly contribute to reducing fuel prices in global markets.
