G7 calls for oil information

The Group of Seven industrialized nations called on oil-producing nations and companies to lift the veil of secrecy surrounding output and reserves, aiming to keep a lid on prices and open new sources of supply.

“Transparency and data is key to the smooth operation of markets,” G7 finance ministers said in a statement after two days of talks ended on Saturday. The ministers said their aim was to ensure “energy security” and “a climate conducive to investment” in the industry.

Chain View