France Plans to Convene G7 to Discuss Releasing Strategic Oil Reserves

French President Emmanuel Macron said on Thursday evening, April 24, during a joint interview with two French television networks, that France intends to convene the Group of Seven (G7) member countries to discuss releasing strategic oil reserves in an effort to stabilize international oil prices.

Recently, diesel prices in the United States and several European countries have reached record highs. Macron stated that G7 members should explore ways to coordinate the release of strategic oil reserves into the market to help lower oil prices.

Macron identified the situation in Iran as the primary reason behind the surge in global oil prices, and emphasized that France is committed to promoting stability in the Middle East.

Additionally, the war in Ukraine is also impacting oil prices. France has called on both sides to cease attacks on each other's energy infrastructure.