French Finance Minister Roland Lescure has said the Group of Seven (G7) nations are not yet ready to release emergency oil reserves despite the sharp surge in crude prices triggered by the Gulf conflict, reported Bloomberg News.
Speaking after discussions among major economies, Lescure said the bloc stands ready to act if needed to stabilise markets, but has not reached a point where coordinated action is necessary.
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“We are not there yet,” Lescure said, referring to a potential joint release of strategic petroleum reserves.
The comments come as global oil markets remai
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