France calls on oil-producing countries to produce more

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France today called on oil-producing countries to increase production “in an unusual way” and called for a “diversification of supplies” to Iran and Venezuela in order to halt the price spike in the war-torn pump in Ukraine.

“We need producer countries to produce more in an unusual way,” until the peak of the crisis is over, “with the goal of carbon neutrality clearly confirmed,” the French presidency said on the sidelines of the G7 summit. ) in Elmau, Germany.

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US President Joe Biden is expected to discuss the issue during a visit to Saudi Arabia in July, and his French counterpart Emanuel Macron is also in “contact” with Saudi Crown Prince Mohammed bin Salman and the new US president. United Arab Emirates Mohammed bin Zayed, the Elysee reported.

“There are resources elsewhere that we also need to explore,” the French presidency continued.

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“Negotiations on the Iranian nuclear dossier are currently stalled on nuclear issues, but not on the relationship between Iran and the United States on a specific issue, US sanctions on terrorism,” he said.

“So there is a knot to solve if necessary” in order for Iranian oil to be “delivered to the markets,” the French presidency stressed. “Venezuelan oil must also be able to be delivered to the market,” he said.

These two oil-producing countries are subject to US sanctions.

France also supports the US proposal for a “price cap” on oil prices, but considers it necessary to extend it to gas and all market players.

“The principle of a price cap is acceptable, it can be supported, but the way it is implemented is quite uncertain. It must be as broad as possible,” the French presidency said, calling for “in-depth discussions”.

Source: AMPE

Source: Capital

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