G7 countries to release up to 100 million barrels of diesel and crude oil reserves - NBC News
G7 countries to release up to 100 million barrels of diesel and crude oil reserves - NBC News
Source: NBC News
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DW NOTE
The G7 is releasing 100 million barrels into a market losing 5.7 million barrels per day. That's eighteen days of cover against an indefinite closure of the Strait of Hormuz — now in its eighth month. Strategic reserves exist to bridge temporary disruptions, not to subsidise a president who has rejected the only proposal to reopen the world's most critical oil chokepoint.