Broad agreement in G7 not to release oil reserves just yet, says G7 official
Source: Reuters
March 9, 2026 11:11 AM EDT Updated 2 hours ago
BRUSSELS, March 9 (Reuters) - There was broad agreement among the Group of Seven finance ministers on Monday not to release strategic oil reserves just yet, a G7 official said.
G7 finance ministers held a teleconference earlier on Monday to discuss a response to the overnight surge in oil prices caused by the U.S.-Israeli war on Iran.
They said in a statement they were ready to take "necessary measures" to support the global supply of energy, including the release of stockpiles, but stopped short of doing it now.
"There was broad consensus on this," one G7 official with insight into the G7 finance ministers' discussions told Reuters. "It was not that someone was against, it's just about timing. More analysis is needed," the official said.
Read more: https://www.reuters.com/business/energy/broad-agreement-g7-not-release-oil-reserves-just-yet-says-g7-official-2026-03-09/
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Let me get my shares in at the market before the prices catapult !
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