French Finance Minister: G7 demands IEA develop plan to release oil reserves

CoinFeed reported on March 10 that the G7 has asked its main energy agencies to develop scenario plans for releasing emergency oil reserves to address market shocks caused by the Middle East crisis. French Finance Minister Roland Lescure told reporters in Paris on Tuesday that the G7 wants to be able to use its oil reserves if necessary and has asked the International Energy Agency (IEA) to study the scale of reserves that can be released. France currently holds the G7 presidency. He added that the IEA will discuss the relevant procedures at its council meeting later on Tuesday.