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Imperial Oil Ltd
Symbol IMO
Shares Issued 481,577,721
Close 2026-10-02 C$ 179.36
Market Cap C$ 86,375,780,039
Recent Sedar+ Documents

Globe/AP say Cenovus hears big diesel release planned

2026-10-05 05:12 ET - In the News

See In the News (C-CVE) Cenovus Energy Inc

The Globe and Mail reports in its Saturday edition that Group of Seven countries plan to release 100 million barrels of oil and fuel, starting with significant amounts of diesel, in response to record-high prices in the United States. An Associated Press dispatch to The Globe reports that President Donald Trump said the diesel release would happen soon, echoing a G7 promise to start "immediately" with a "front-loaded substantial release" of diesel within 20 days and the rest over four months. Mr. Trump faces pressure to address surging prices ahead of the Nov. 3 midterm elections. The national average for a gallon of diesel in the U.S. was $6.37 on Friday, after hitting a record $6.52 on Sept. 22 (all figures U.S.). Diesel prices have hit records in Europe, too. The release of diesel there might mean less exports of diesel from the U.S., which could lower prices by 25 to 50 cents a gallon after a few weeks. The release follows on from a March announcement that International Energy Agency member would release 426 million barrels of oil and products to stabilize the oil market. European Union countries committed about 92 million barrels, a promise weighted toward refined products made from crude such as diesel.

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