G7 energy ministers say they support in principle use of strategic oil reserves – business live

## Summary
News just in: the G7 group of nations said today that they supported, in principle, the implementation of proactive measures to address oil supply issues and market volatility, including the use of strategic oil reserves. Energy ministers from the group held a virtual meeting with the International Energy Agency on Tuesday to discuss the impact of the Iran war on energy markets and supply. G7 energy ministers said in a statement emailed to Bloomberg: double quotation mark Working alongside the IEA, we are vigilantly monitoring energy market trends and are coordinating within the G7 and with our international partners, IEA member countries, and beyond. The G7 ministers added that they support in principle the “implementation of proactive measures to address the situation, including the use of strategic reserves”.

## Article Content
News just in: the G7 group of nations said today that they supported, in principle, the implementation of proactive measures to address oil supply issues and market volatility, including the use of strategic oil reserves.
Energy ministers from the group held a virtual meeting with the International Energy Agency on Tuesday to discuss the impact of the Iran war on energy markets and supply.
G7 energy ministers said in a statement emailed to Bloomberg:
double quotation mark
Working alongside the IEA, we are vigilantly monitoring energy market trends and are coordinating within the G7 and with our international partners, IEA member countries, and beyond.
They said they “warmly welcome today’s meeting of the IEA governing board, which provides a crucial opportunity for member countries to assess the current security of supply and market conditions”.
The G7 ministers added that they support in principle the “implementation of proactive measures to address the situation, including the use of strategic reserves”.

---

## Expert Analysis

### Merits
N/A

### Areas for Consideration
N/A

### Implications
- Energy ministers from the group held a virtual meeting with the International Energy Agency on Tuesday to discuss the impact of the Iran war on energy markets and supply.

### Expert Commentary
This article covers energy, supply, market topics. Readability: Flesch-Kincaid grade 0.0. Word count: 158.