G7 leaders stated that they will coordinate the release of 100 million barrels of strategic oil reserves through the International Energy Agency (IEA). The action will begin immediately and last for four months. G7 member states and partners will lead the large-scale release of diesel reserves within the first 20 days. The G7 also pledged to avoid imposing energy export restrictions among member states and called on other oil-producing countries not to implement export bans. Affected by this, US WTI crude oil once fell by nearly 5.2% during early trading on Friday.