G7 to discuss joint release of emergency oil reserves – report

Gas prizes are displayed at a gas station with the European Central Bank in background in Frankfurt, Germany, March 2, 2026. (AP/Michael Probst)
Gas prizes are displayed at a gas station with the European Central Bank in background in Frankfurt, Germany, March 2, 2026. (AP/Michael Probst)

The G7 finance ministers will discuss today a joint release of oil from emergency reserves coordinated by the International Energy Agency, the Financial Times reports.

Three G7 countries, including the US, have so far expressed support for the idea, the FT adds, as the war between the US and Israel and Iran has sent crude oil prices surging.

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