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G7 Finance Ministers urge oil producing countries to increase production — statement

The G7 ministers said that they would increase coordination with partners committed to bolstering efficiency, stability and transparency in energy markets

BERLIN, September 2. /TASS/. Member-countries of the Group of Seven (G7) urged oil producing nations to scale up crude oil production in order to reduce volatility on energy markets, G7 Finance Ministers said in their joint statement on Friday.

"In line with G7 Leadersґ commitments at Elmau, we continue to encourage oil-producing countries to increase their production to decrease volatility in energy markets," the statement reads.

"We will increase coordination with partners committed to bolstering efficiency, stability and transparency in energy markets," G7 Ministers added.

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