World faces energy crisis: G7 and IEA take action

The leadership of the International Energy Agency (IEA) will hold an informal meeting to discuss a proposal to release oil and diesel fuel from strategic reserves.

TodayPress TV reports, citing two European Union diplomats, that Reuters reported this information.

“The meeting is scheduled for the second half of the day. Representatives of EU member states have already discussed the proposal at a meeting held on the morning of October 7,” the agency’s sources said.

The discussions are taking place against the backdrop of the G7 countries’ decision to use emergency reserves of oil and petroleum products to ease shortages and curb rising prices.

Aysel Matlab