US backs down from fuel export ban threat as G7 agrees to release 100mn barrels

What happened

The world's wealthiest nations say they will release 100 million barrels of oil and diesel fuel in their reserves. The agreement involves the release of 100 million barrels of diesel and oil over four months. Leaders agree a coordinated drawdown after surge in prices and Donald Trump’s threat to cut off US supplies Leaders of G7 nations are to release up to 100m barrels of their emergency diesel and crude oil stockpiles after Donald Trump threatened to cut off supplies of US diesel. President Donald Trump said he won’t ban US diesel exports, after Group of Seven nations and their partners agreed to release some of their emergency fuel stockpiles in a bid to bring down soaring prices.

Summarised from: NPR, The Washington Post, The Guardian, Bloomberg.

Full coverage · 11 sources

• Wall Street Journal 3 October 2026 at 06:18 WIB
  G-7 Agrees to Release 100 Million Barrels of Diesel and Crude
• Associated Press 3 October 2026 at 04:19 WIB
  G7 nations will release 100 million barrels of oil and diesel fuel after prices soar
• Bloomberg 3 October 2026 at 03:47 WIB
  Trump Says US to Hold Off on Diesel Export Ban After G7 Release
• Reuters 3 October 2026 at 03:42 WIB
  EXCLUSIVE: G7 countries agree on release of diesel and oil stocks after US pressure
• Financial Times 3 October 2026 at 03:31 WIB
  US backs down from fuel export ban threat as G7 agrees to release 100mn barrels
• BBC News 3 October 2026 at 03:25 WIB
  G7 to release 100 million barrels of oil and diesel after Trump export ban threat
• NPR 3 October 2026 at 03:23 WIB
  The G7 will release 100 million reserve barrels of diesel fuel over the next 4 months
• CNBC 3 October 2026 at 03:04 WIB
  Oil prices lower as G7 nations to release diesel stocks, Saudis reportedly plan attack on Houthis
• The Guardian 3 October 2026 at 01:52 WIB
  G7 to release up to 100m barrels of emergency oil and diesel reserves
• The New York Times 3 October 2026 at 01:28 WIB
  U.S. and Allies Agree to Release Diesel Reserves as Prices Soar
• The Washington Post 3 October 2026 at 00:59 WIB
  G-7 agrees to release oil reserves to reduce fuel prices after U.S. pressure

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