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G7 Hints At Emergency Oil Release, Calls Oil Producers To Raise Output

“The current rise in oil prices reflects geopolitical concerns and certain supply disruptions,” said the G7 in a joint statement, cited by Reuters.

Finance ministers from the Group of Seven (G7) nations have warned oil-producing countries that their group was prepared to release their emergency oil reserves into the market, unless the oil producers ensured that the market was well supplied.
<p>Finance ministers from the Group of Seven (G7) nations have warned oil-producing countries that their group was prepared to release their emergency oil reserves into the market, unless the oil producers ensured that the market was well supplied.</p>

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