France pushes for higher global oil production at G7 summit

Financial Times LogoFinancial Times1 mo ago

France pushes for higher global oil production at G7 summit

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The US is the world’s biggest producer, pumping almost 18mn b/d of crude and natural gas liquids; Canada is the fifth largest, pumping some 4.5mn b/d of crude; and the UK pumps more than 900,000 b/d, second only to Norway among European members of the OECD.

Another said that all G7 states agreed with the “basic idea that we have to reduce the sources of revenue for Russian oil”.

The US has been putting pressure on the cartel’s linchpin, Saudi Arabia, to cool the crude price rally as it hangs over the global economy.

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Article Details

Author / Journalist: Victor Mallet

Category: MarketsFinanceInvesting

Topics: Production Financial Ways Russian Price French Idea President Higher Crude

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-27, 19:21:33

News Timezone: GMT -5:00

News Source URL:

Language: English

Reading Time: 4 minutes read

Article Length: 643 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 16736

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