Oil Prices Fall as G7 Agrees to Release 100 Million Barrels of Reserves
22 Articles
22 Articles
It is to reduce the pressure on fuel prices
The G7 countries, including France, will release 100 million barrels of gas oil and crude oil from their strategic reserves, an emergency measure that will begin stocks, even though Europeans have 780 million barrels in reserve. The aim is to ease the pressure on the markets and, therefore, to lower prices. The question is when drivers will see the results at the pump. The prices of the Brent have actually fallen last Friday. (Conso and trends).
The release of oil and diesel reserves planned by the G7 countries will probably not sustainably reduce high fuel prices, but they are sending a signal to the market.
MAINTENANCE - Emmanuel Macron announced on Friday that the G7 countries had agreed to release part of the strategic stock. Figaro interviewed economist Patrice Geoffron to assess the consequences of this decision.
The release of oil reserves is critical – especially of the German Greens. But an economist also doubts that the prices for fuel will now fall. NRW Prime Minister Wüst already considers the current price policy of the oil companies to be a "scandal".
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