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

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)