Macron Calls for G7 Meeting to Mull Release of Oil Reserves
- On Friday, French President Emmanuel Macron announced a Group of Seven summit in the coming weeks to address energy supply security amid rising costs from conflicts in Ukraine and the Middle East.
- Wars in Ukraine and the Middle East have driven energy prices higher, sapping economic growth and forcing Macron to pursue coordinated international action on stockpiles and production capacity.
- Addressing the press at the Elysee Palace on Friday, Macron said, "I will convene a G7 to move forward on improving coordination on the level of stockpiles, with greater cooperation on exports and production capacity."
- The Group of Seven meeting will consider potential releases from strategic reserves to strengthen cooperation and avoid tensions among members and partners, following similar coordination with the International Energy Agency.
- Facing growing domestic pressure over high fuel prices, France's government is using the summit to strengthen cooperation among Group of Seven members and secure energy supplies amid persistent market instability.
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66 Articles
London, 18 Sep (EFE).- The price of the barrel of Brent for delivery in November closed this Friday with a decrease of 0.91%, to reach 103.87 dollars at the close of the London futures market. The crude oil of the North Sea, of reference in Europe, went back 0.95 dollars in the Intercontinental Exchange (ICE) [...] The entry The Brent falls 0.91% to 103.87 dollars after Macron's request to free reserves was first published in HolaNews.
The President of France, Emmanuel Macron, announced the convening of a G7 meeting in the coming weeks on the rapid rise in world energy prices.
Macron Calls Emergency G7 Meeting On Fuel Prices
Politico Europe reports: French President Emmanuel Macron said Friday he would call a Group of Seven meeting to address skyrocketing global energy prices and look at releasing strategic oil stocks. “We will have in the upcoming weeks a G7 [meeting] that will be devoted to energy issues, to increase cooperation and avoid unnecessary tensions between G7 countries and our main partners,” Macron said during a press conference. The French leader’s co…
Macron Calls for Another Emergency Oil Release as Europe Loses Supply
French President Emmanuel Macron is calling the G7 back to the table to discuss another release of emergency oil stocks as Europe loses Saudi crude deliveries and diesel prices push deeper into record territory. Macron said Friday that he will convene G7 countries in the coming weeks to coordinate stock levels, exports and production capacity and consider tapping strategic reserves. France is also working to secure diesel, jet fuel and natural g…
Emmanuel Macron plans to organize a G7 summit in Paris “within the coming weeks” against the backdrop of the energy crisis. The French president aims to “achieve progress on better coordination on stock levels.” This meeting is expected to contribute to “avoiding unnecessary friction between G7 member states and our key partners,” while at the same time “reassessing alternatives for the possible use of strategic reserves,” as the French presiden…
The French President, Emmanuel McCrone, said that in the coming weeks, a meeting of the Group of Seven would be convened to discuss energy issues, including options for drawing from strategic reserves.
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