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G7 ‘Ready’ to Take ‘Necessary Measures’ on Oil Reserves

March 11, 2026,
11:45 AM
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G7 'Ready' to Take 'Necessary Measures' on Oil Reserves
The EU's gas and diesel reserve for emergency use.
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Energy ministers of the G7 said on Wednesday they stood ready to take “all necessary measures” in coordination with the International Energy Agency (IEA) to tackle the rise in crude oil prices due to the Middle East war.

“In principle, we support the implementation of proactive measures to address the situation, including the use of strategic reserves,” energy ministers of the G7 said in a statement on Wednesday. (AFP)

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Crude Oil PricesEnergy CrisisG7Middle East ConflictStrategic Oil Reserves

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