Modern.az

G7 holds an emergency meeting on oil resources

G7 holds an emergency meeting on oil resources

World

9 March 2026, 15:56

G7 finance ministers plan to meet today to discuss the potential joint release of strategic oil reserves.

Modern.az reports that "Reuters" and "Financial Times" news agencies reported this, citing anonymous government sources.

According to the information, the ministers will hold a phone call with Fatih Birol, the executive director of the International Energy Agency, which coordinates strategic reserves as part of an emergency system for oil price crises.

It should be noted that events in the Middle East have created increasing threats to energy fields and transport routes. On Sunday, oil prices exceeded $100 per barrel for the first time since Russia's attack on Ukraine in 2022. On Monday, Asian markets faced sharp losses after the price increase.

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