Trump says Europe to unlock ‘massive amount of Diesel’; G7 agrees 100 million-barrel oil release amid global crunch

US President Donald Trump on Friday said Europe had agreed to release a “massive amount” of its diesel stocks, hours before G7 nations agreed to a coordinated release of 100 million barrels of oil through the International Energy Agency, including a substantial frontloaded release of diesel within the first 20 days.

“Europe has just agreed to release a massive amount of their heavily stocked Diesel Oil. The process will begin immediately,” Trump said in a post on Truth Social.

Read more: Trump’s diesel squeeze may put Indian refiners in a sweet spot, and a bind


The G7 said the 100 million barrels would be released over four months, with the IEA coordinating the effort. The agreement comes as diesel prices have surged to record levels in the US and fuel markets face tightening supplies amid the Iran war, disruptions to refining capacity and restrictions on fuel exports.

“We will implement our commitments with a coordinated release through the IEA of 100 million barrels (MB) to begin immediately over 4 months, including a frontloaded substantial diesel release within the first 20 days by G7 members and partners,” the G7 leaders said in a statement released by the office of French President Emmanuel Macron.

The coordinated move gives Trump a rapid international response to his calls for more fuel supplies as his administration faces pressure over rising energy costs ahead of the November midterm elections.

G7 moves after US pressure on Europe

Trump's announcement came after European Union countries discussed a French proposal to release 50 million barrels of diesel from strategic reserves, alongside a further 50 million barrels of crude oil from International Energy Agency members, according to people familiar with the talks cited by Reuters. The discussions have now been folded into the broader G7-coordinated release.

The push followed mounting pressure from Washington for European allies to make additional fuel supplies available. US Treasury Secretary Scott Bessent on Thursday called on European partners to “accelerate delivery on their existing commitments and make additional supplies immediately available to address ongoing disruptions.”

US Energy Secretary Chris Wright had also expressed confidence that European countries would release emergency diesel reserves, as Washington sought faster action to cool fuel prices.

The US administration had pressed France and Germany to draw down strategic diesel inventories and threatened the possibility of restricting US diesel exports if Europe failed to act, according to Reuters. European governments had discussed making any additional release conditional on a US commitment not to impose a unilateral diesel export ban.

Trump said on Wednesday that he was considering a US diesel export ban, while acknowledging that such a move could eventually push gasoline prices higher.

“I’m thinking about it,” Trump told reporters in the Oval Office.

Also read: Release diesel stocks or face ban: US to France & Germany

Record US diesel prices raise political pressure

The G7 action comes as fuel prices have climbed sharply during the eight-month-old Iran war, adding to pressure on the Trump administration to contain costs for consumers.

The national average for a gallon of diesel in the US stood at $6.37 on Friday, according to AAA, after reaching a record $6.52 on September 22, AP reported.

Trump spoke overnight with Macron, who currently holds the rotating G7 presidency, about rising fuel prices and the availability of petroleum products, according to the French Embassy in the US. Macron then chaired a videoconference of G7 leaders on Friday to discuss the energy crisis.

The G7 statement said the coordinated release would seek to stabilise global energy markets as supplies remain under pressure. The IEA had already agreed in March to a record 400-million-barrel coordinated release of strategic oil reserves in response to the Iran war, with about two-thirds of those volumes subsequently released, according to Reuters.

The latest action also comes as global refined-product supplies face additional disruption. Russia has kept a ban on diesel exports, while China has suspended fuel exports beyond Hong Kong and Macau for October, tightening supplies in Asian and international markets.

The political stakes are particularly high in the US, where Trump and Republicans face the November midterm elections with fuel prices among the economic pressures confronting consumers. An AP-NORC poll found that a majority of US adults blame Trump for higher prices, while approval of his handling of the economy has fallen to a new low.