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Macron Calls for G7 Meeting to Mull Release of Oil Reserves

Source: Bloomberg

Energy Markets & PricesGeopolitics & WarCommodities & Raw MaterialsEconomic Data

French President Emmanuel Macron plans to convene G7 members in coming weeks to discuss a potential release of strategic oil-product stockpiles. The proposal responds to surging energy prices driven by the war in Ukraine and Middle East conflict, which are weighing on global economic growth. A coordinated stockpile release could temporarily ease refined-product supply constraints and energy-price pressure.

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