France states that the world is taking action to stabilize the oil market

2026-03-10 21:26:37

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Investing.com – French Finance Minister Roland Lescure said Tuesday that countries around the world are ready to take action to stabilize the oil market.

Lescure told reporters that countries have asked the International Energy Agency to develop potential plans for releasing oil reserves. “We have asked the IEA to develop potential oil reserve release plans,” Lescure said.

The finance minister emphasized the urgency of the situation, stating, “We need to be prepared to act at any time.”

According to Lescure, the scope of cooperation includes major economies. “All countries, including the United States, are willing to take measures to stabilize the market,” he said.

France is facing particular pressure from rising fuel costs. “The impact on diesel prices in France is especially severe, and the increases we have seen are already significant,” Lescure pointed out.

The French government is considering regulatory actions against retailers. “We are prepared to sanction excessive price hikes at gas stations,” the minister said.

The International Energy Agency board was scheduled to hold a meeting at 3:00 PM Tuesday to discuss this matter. “The next step is the IEA board meeting, which will start in a few minutes at 3:00 PM,” Lescure said.

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