00:01G7 countries have agreed to release up to 100 million barrels from their strategic reserves
00:06in a coordinated effort to bring down soaring energy prices, particularly diesel prices.
00:12The International Energy Agency will coordinate the release over four months
00:16with a substantial amount of diesel expected to become available within the first 20 days.
00:22French President Emmanuel Macron said the countries had agreed to act together
00:26to ease pressure on energy prices.
00:28The move follows growing pressure from Washington to release strategic reserves
00:32as diesel supplies tighten.
00:35The package also includes measures to increase refinery output
00:39and a pledge not to restrict trade in energy and oil products between partner countries.
00:44But the impact may not be immediate.
00:48Crude oil must first be processed by refineries, meaning capacity, logistics and the type of crude available
00:53will determine how much additional diesel ultimately reaches consumers.
01:00Crude oil must have derived from the
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