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Oil: France would like producing countries to set a “maximum price”


An oil refinery of the giant Gazprom Neft, on the outskirts of Moscow on April 28, 2022 (AFP/Archives/Natalia KOLESNIKOVA)

France is in favor of setting a “maximum oil price” at the level of “producer countries” in order to counter the surge in prices caused by the war in Ukraine, the French presidency said on Sunday on the sidelines of the G7 summit. in Germany.

Paris is not “opposed in principle” to the American price cap proposal but “what would be much more powerful for us is to put a maximum price on oil that comes from all producing countries”, has underlined the Elysée.

“This is what we need to re-engage in the discussion with OPEC +, and with all the oil producers in the world”, added the French presidency.

This proposal is distinct from the measure suggested by the United States of a ceiling on oil prices which would be decided in the consuming countries.

This second idea will be discussed by the leaders of the G7 meeting until Tuesday in southern Germany, but several capitals, including Berlin, have noted that it is a complex measure to implement.

“What we must do at the G7 is rather to try to have a + price cap + (ceiling) on ​​oil, and in my eyes gas too, to avoid having too significant consequences of the sanctions and the global economic situation, said a source within the French presidency.

© 2022 AFP

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