G7 leaders agreed on Friday to release "100 million barrels" of diesel and crude oil from their reserves into the markets over the next four months to curb prices, according to French President, as reported by "AFP".

Emmanuel Macron stated in a statement following talks he chaired to coordinate action on fuel prices that the group agreed on a "coordinated release, via the International Energy Agency, of a total of 100 million barrels, to be implemented immediately over four months." 
He also clarified that there was an agreement not to impose any restrictions or bans on exports among G7 countries, noting that his American counterpart Donald Trump was also "very clear on this point." He emphasized that these decisions "will lead to a reduction in fuel prices."

The G7 statement called on all energy producers to refrain from imposing bans that could exacerbate market tensions.