G7 countries release oil
106
The world has little oil. Therefore prices for gas are high. The G7 countries make a choice. They sell 100 million barrels of oil from their stores. This happens now. The sale takes 4 months. One barrel of oil is 159 liters. Diesel comes fast to the market. The countries want lower prices at gas stations. Donald Trump demands this step. He wants cheap fuel for his land. He threatens Europe. The reason for the lack is a war in Iran. Russia sells less diesel too. The G7 countries work with the IEA. The IEA checks energy stores. The countries show unity. The markets calm down.
This text was generated automatically and has not been reviewed for accuracy. No guarantee is given for the correctness of the content. Learn more Learn more about article generation
Definitions
- G7
- The G7 is a group of 7 important industry lands in the world.
- Barrel
- A barrel is a measure for oil. It is 159 liters.
- IEA
- The IEA is an office. It helps lands with energy.
- Stores
- These are reserves of oil. Lands keep them for bad times.
People
- Donald Trump
- He is the president of the United States of America.
- Emmanuel Macron
- He is the president of France.
- Ursula von der Leyen
- She is the head of the EU.
Locations
- Iran
- A land in the Middle East with a war.
- Europe
- A big part of the world with many lands.
Sources
ANSA
Il G7 libera 100 milioni di barili dalle scorte per frenare i prezzi - Notizie - Ansa.it
Read now
Latest articles
Politics
Domestic Policy
Spain: Fight about flats makes trouble
Read nowSpain rejects new laws against high rent. The government has trouble now. Many people protest for cheap flats.
Politics
Defense & Security
Brave people stop plane crash
Read nowA co-pilot attacks the captain with a knife on a flight. Brave passengers stop the man and save 182 lives.
Politics
Economic Policy
G7 countries give free diesel
Read nowThe G7 countries give up to 100 million barrel diesel and crude oil free. This lowers high prices and helps people.
Sport
Football
Edin Džeko quits national team
Read nowEdin Džeko plays his last game for Bosnia and Herzegovina. The 40 year old captain stops after 152 games. Fans celebrate him.