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G7 Requests IEA to Develop Plan for Oil Reserve Release
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French Finance Minister Roland Lescure disclosed that the Group of Seven (G7) aims to be ready for oil reserve release at any time, and it has asked the International Energy Agency (IEA) to study the amount of oil that could be used, according to foreign reports. IEA Executive Director Fatih Birol issued a statement after the G7 ministerial meeting, saying that the oil market situation is deteriorating, and that the IEA member countries will assess the current supply security and market conditions as a basis for deciding whether to release emergency reserves from IEA member states. AAStocks Financial News |
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