Trump Rules Out Diesel Export Ban as G7 Plans Fuel Release

President Donald Trump said Friday the United States would not ban diesel exports, as G7 members announced plans to release 100 million barrels of fuel and oil from emergency stocks through a coordinated effort led by the International Energy Agency. The release is set to begin immediately and run over four months, with a substantial amount of diesel planned for the first 20 days. Its effect on prices remains uncertain. Speaking to reporters outside the White House on October 2, Trump said the United States would continue exporting diesel and praised European countries for contributing fuel from their reserves. He also said a US export ban had never really been under consideration. However, reports of his earlier remarks said he had described the possibility as under discussion in recent weeks. The available accounts do not establish what steps, if any, the administration took to consider such a restriction. The G7 announcement followed concerns about tight fuel supplies and elevated prices. Its members said the release would be coordinated through the IEA and include oil and refined products.