French Finance Minister Roland Lescure told reporters in Paris on Tuesday that G7 countries want to be ready to use oil reserves if needed, and tasked the International Energy Agency (IEA) with studying the volumes that could be released from these stocks. He explained that France, which currently holds the G7 presidency, is seeking to ensure member states are prepared to act quickly if developments in the crisis require measures to support energy supplies in markets. G7 countries have asked their energy agency to prepare possible scenarios for the release of emergency oil reserves amid market turmoil caused by the Middle East crisis. (Bloomberg)
