100 million barrels of oil promised by the G7 begin to arrive on the market

The G7 countries have begun releasing 100 million barrels of oil and diesel from strategic reserves to stabilize the market. This initiative, supported by the International Energy Agency, follows a decision to release 400 million barrels due to market shortages caused by geopolitical tensions. Additional contributions from EU countries, including Portugal, aim to enhance market fluidity. France plans to release 10 million barrels over three months, hoping to reduce fuel prices. TotalEnergies has started lowering prices at its stations in France, responding to political pressure over its profits amid rising oil prices. The full 400 million barrels have yet to be released by IEA members.