G-7 Ministers Urge Oil-Producing Countries to Expand Supplies

Economy Politics

Berlin, March 10 (Jiji Press)--Energy ministers from the Group of Seven major industrialized nations, in a joint statement adopted at an online meeting Thursday, urged oil and gas producing countries to expand their supplies amid the Ukrainian crisis.

"We call on oil and gas producing countries to act in a responsible manner and to examine their ability to increase deliveries to international markets," the G-7 ministers said in the statement.

The ministers also said, "We welcome that International Energy Agency members have already released 61.7 million barrels of oil to the market and stand ready to take additional action as the situation requires."

The meeting was held in response to concerns about possible disruptions in energy supplies from Russia, which is facing sanctions over its invasion of Ukraine.

From Japan, Economy, Trade and Industry Minister Koichi Hagiuda attended the G-7 talks, which were also joined by Ukraine's energy minister Herman Halushchenko. The G-7 groups Britain, Canada, France, Germany, Italy, Japan and the United States plus the European Union.

[Copyright The Jiji Press, Ltd.]

Jiji Press