French Finance Minister Roland Lescure says the G7 is “not there yet” in terms of any release of strategic oil reserves, after talks with his counterparts of the world’s leading industrialised nations, AFP reports.

Asked if they had agreed on releasing stockpiles, Lescure said: “We’re not there yet. What we’ve agreed upon is to use any necessary tools, if need be, to stabilise the market, including the potential release of necessary stockpiles”.