France is going to define “maximum oil price“level”producing countriesIn order to cope with the increase in prices caused by the war in Ukraine, the French presidency announced on Sunday within the framework of the G7 summit in Germany.
Not Parisfundamentally opposedto the US price cap proposal, howeverIt would be much more powerful for us to set a maximum price for oil that comes from all producing countries“, Eliseum emphasized. «This is what we need to re-engage in the discussion with OPEC and all the world’s oil producers.added the French Presidency.
This proposal differs from the US proposed oil price cap measure, which would be decided by consuming countries.
This second idea will be discussed by G7 leaders until Tuesday in Munich, but several capitals, including Berlin, have said it is a difficult way to implement.
«What we need to do in the G7 is rather try to have a “price ceiling” (ceiling) for oil, and I think also gas, to avoid the consequences of sanctions and the situation being too significant.the economic world, said the source of the French presidency.
Source: Le Figaro
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.