G7 Prepares Coordinated Oil Release Amid Rising Prices

G7 Prepares Coordinated Oil Release Amid Rising Prices

G7 finance ministers are set to discuss a joint oil release from strategic reserves, led by the International Energy Agency. This move responds to oil prices surging to $119 per barrel due to escalating Middle East tensions. According to Financial Times, an emergency meeting with IEA head Fatih Birol will take place soon. So far, three countries, including the US, back the initiative.

(Source: mirovoyNovostnik)

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