Guo responded in this way after being asked about reports of coordination between the Group of Seven (G7) and the International Energy Agency (IEA) for possible coordinated releases of oil reserves.

Although the spokesperson sent those interested to consult the relevant authorities, he added that energy security is crucial for the global economy and all stakeholders have a responsibility to ensure a stable energy supply.

The US and Israeli attacks on Iran and the subsequent Iranian response triggered instability in the Middle East, and the price of crude oil rose above 100 dollars for the first time since 2022.

The IEA maintains strategic petroleum reserves as part of an emergency system designed to help countries withstand price crises.

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