Economy

xchrom

(108,903 posts)

40. France poised to release strategic oil reserves

Wed Mar 28, 2012, 08:35 AM

Mar 2012

http://hosted.ap.org/dynamic/stories/E/EU_FRANCE_OIL?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2012-03-28-07-08-46

PARIS (AP) -- France's government says it is considering releasing oil from its strategic reserves as part of a U.S.-led effort to increase supply to bring down high prices.

Industry Minister Eric Besson said "the United States asked, and France welcomed this hypothesis."

Government spokeswoman Valerie Pecresse said France is waiting for recommendations from the International Energy Agency before tapping its oil reserves.

She said the French government is also pressing oil-producing countries to release more oil on the markets to ease prices.

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