During a press conference following a G7 finance ministers' video conference, French Finance Minister Roland Lescure stated that the G7 countries have not yet decided on the potential release of their oil reserves amidst the ongoing conflict in Iran. Lescure assured that while the situation is being monitored closely, there are presently no supply issues in either Europe or the United States.

Lescure emphasized that the G7 nations agreed on utilizing all necessary tools should the market stabilization become essential, which may include the potential release of crucial oil reserves. Japanese Energy Minister Satsuki Katayama also highlighted that discussions on the reserves would be imminent as energy ministers from the world’s leading industrialized nations plan to convene soon.

The coordination on oil reserve management is crucial in the context of geopolitical tensions, particularly regarding Iranian military activities and the implications for global oil supply. The G7's current stance reflects a wait-and-see approach, indicating a level of confidence in the current supply situation while being prepared to take action if necessary.