France not planning oil stock release but may revisit decision
French Finance Minister Roland Lescure said Wednesday that France is not currently planning to release new oil stocks, though the matter could be reconsidered in the coming weeks.
Lescure made the remarks ahead of next week’s G7 meeting, where energy security is expected to be a key topic of discussion.
The International Energy Agency has projected that global oil supply will fall short of total demand this year. The agency attributed the shortfall to disruptions in Middle East oil production caused by the Iran war.
Lescure also addressed the rare earths market, stating that the market needs to be organized to prevent any single country from holding a monopoly position.
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