The Group of Seven (G7) nations have announced plans to release 100 million barrels of emergency fuel from their reserves over the next four months. The decision follows growing international concern over energy supplies and rising pressure from Washington.
The world's wealthiest nations held an emergency meeting on energy to coordinate the response. Under the agreed strategy, member countries will tap into their national stockpiles to supply both crude oil and diesel fuel to international markets.
By making 100 million barrels available over a four-month period, the G7 aims to cushion the global economy from energy shortages. Officials say they will continue to monitor energy markets closely as the fuel is released.