The Group of Seven (G7) has agreed to release 100 million barrels of oil and diesel to ease the supply pressures that have sent prices soaring, according to BBC News.

The coordinated release through the International Energy Agency (IEA) begins immediately and runs for four months, with a substantial share of diesel frontloaded into the first 20 days, according to the BBC. The group's members also agreed to refrain from export restrictions on energy and energy products among themselves. US President Donald Trump took credit on Friday for the release of European diesel and said he asked allies to help bring down soaring fuel prices, the Associated Press reported.