The G7 countries agreed to bring to market an additional 100 million barrels of oil and petroleum products from national reserves to stabilize prices, but Japan refused to participate in the intervention. As Izvestia writes, the head of the Saudi government company Saudi Aramco, Amin Nasser, warned against the depletion of global reserves: less than 10% of global reserves are available for extraction, as the rest of the raw materials constitute the necessary technological minimum for the storage infrastructure.

The G7 countries agreed to bring to market an additional 100 million barrels of oil and petroleum products from national reserves to stabilize prices, but Japan refused to participate in the intervention. As Izvestia writes, the head of the Saudi government company Saudi Aramco, Amin Nasser, warned against the depletion of global reserves: less than 10% of global reserves are available for extraction, as the rest of the raw materials constitute the necessary technological minimum for the storage infrastructure.