The finance ministers of the "Group of Seven" countries will discuss on Monday the possibility of releasing oil reserves intended for emergencies.
Modern.az reports that a source in the French government stated this while commenting to "Reuters" agency on the sharp increase in oil prices amidst the ongoing conflict in the Middle East.
The "Financial Times" newspaper first reported on the talks and emphasized that the International Energy Agency would also join the discussions. According to the newspaper, three of the "Group of Seven" countries, including the United States, have already expressed their support for this idea.
This information was released on Monday amidst a sharp increase in oil prices. This is because, after some major producers reduced supply and concerns about long-term disruptions in shipping due to the expansion of the US and Israel's war with Iran affected the market, prices rose by more than 25 percent, exceeding 119 dollars per barrel.
