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Officials say G7 finance ministers reach consensus to not release oil reserves for now
Svmuu News: An official from the Group of Seven (G7) stated that G7 finance ministers reached a broad consensus on Monday regarding the issue of immediately releasing strategic petroleum reserves, deciding to hold off on taking this action for now. The G7 finance ministers held a conference call earlier on Monday to discuss how to respond to the surge in oil prices triggered by the US-Israel war on Iran. In their statement, they indicated they are prepared to take "necessary measures" to support global energy supply, including releasing stockpiles, but have not yet decided to implement them. An official familiar with the discussions said: "There is a broad consensus on this. It's not that anyone is opposed, it's a matter of timing. More analysis is still needed." The official stated that G7 energy ministers will hold a conference call on Tuesday to discuss the same issue, and G7 leaders will also discuss the matter later this week. "In my view, the final decision will be made by the leaders of each country," the official said. (Jin10)
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