FRANCE: Prime Minister Francois Fillon says there is high probability that Europe and the United States will strike a deal on the release of strategic oil reserves
Record ID:
344157
FRANCE: Prime Minister Francois Fillon says there is high probability that Europe and the United States will strike a deal on the release of strategic oil reserves
- Title: FRANCE: Prime Minister Francois Fillon says there is high probability that Europe and the United States will strike a deal on the release of strategic oil reserves
- Date: 30th March 2012
- Summary: PARIS, FRANCE (MARCH 29, 2012) (REUTERS) PARIS SKYLINE
- Embargoed: 14th April 2012 13:00
- Keywords:
- Location: France, France
- Country: France
- Topics: International Relations,Politics,Energy
- Reuters ID: LVA70OLHMGLYRZC6Q5UK4VWZWURE
- Story Text: France believes there is a good chance of a U.S.-Europe accord on the release of strategic oil reserves, Prime Minister Francois Fillon said on Thursday (March 29).
Fuel prices in France have hit record levels, prompting an intense debate between presidential candidates ahead of next month's presidential election.
Earlier this month British sources said London was prepared to cooperate with Washington on a release of strategic oil stocks that was expected within months, in a bid to prevent fuel prices from choking economic growth in what is also a U.S. election year.
French ministers revealed on Wednesday that Paris was in talks with the United States and Britain on a possible release of strategic oil stocks to combat a recent surge in the price of crude on world markets.
The price of benchmark Brent crude oil has risen about 15 percent this year.
"My impression is prospects are good for agreement between the United States and Europe," said Fillon, who added: "Don't expect miracles on drops in petrol prices." - Copyright Holder: REUTERS
- Copyright Notice: (c) Copyright Thomson Reuters 2012. Open For Restrictions - http://about.reuters.com/fulllegal.asp
- Usage Terms/Restrictions: None