G-7 Asks IEA to Prepare Scenarios for Oil-Stockpile Release
Storage tanks at an oil depot in Port La Nouvelle, France.
Photographer: Matthieu Rondel/BloombergGroup of Seven nations asked their main energy agency to prepare scenarios for the release of emergency oil stockpiles as the Middle East crisis roils markets.
The G-7 wants to be ready to deploy oil reserves if needed, and tasked the International Energy Agency with studying the volumes that could be released, French Finance Minister Roland Lescure told reporters in Paris on Tuesday. France holds the current G-7 presidency.