The Group of Seven (G7) expressed support in principle for the use of strategic petroleum reserves.

The G7 group has expressed support for utilizing strategic reserves to address the issues of oil supply and market fluctuations since the outbreak of the war with Iran. Energy ministers from the G7 held a video conference with the International Energy Agency on Tuesday to discuss the impact of the Iran war on the energy market and supply. In an email statement on Wednesday, they said, "We are working closely with the International Energy Agency to closely monitor energy market trends and coordinate within the G7 and with our international partners, IEA member countries, and others." They stated, "We warmly welcome the meeting of the International Energy Agency's Board today, providing member countries with a crucial opportunity to assess current supply security and market conditions." The ministers added that they generally support "taking proactive measures to address this situation, including using strategic reserves."