A spokesperson for the French Government has requested that petroleum products from Iran and Venezuela be allowed into the world market, Orinoco Tribune reports.
Both countries have been having difficulties getting their petroleum products into the world market, because of sanctions imposed on them by the United States and its allies.
Sources from French President Emmanuel Macron’s administration told Orinoco that France sees it as a priority that the international community, buyers and producers, work together to ensure that the right volume of petroleum products is in place to ease tensions and lower prices.

“We believe that all options deserve to be explored given what is at stake, including Iran and Venezuela, but these are conversations to have with our partners,” a government representative told Orinoco.
Iran and Venezuela are key oil producers. Allowing their products into the world market will likely ease the tightening international market a bit.
The prices of petroleum products have been elevated since the war in Ukraine began. Russia in February invaded Ukraine, a war that has escalated geopolitical tensions and led to disruption in supplies of petroleum products.
Russia accounts for about one-third of oil supply to Europe and about 40 percent of natural gas supplies. However, the sanctions imposed on the country by western countries has impacted on its production output, causing tight supply of products.

According to Argus Media, Russia’s production averaged 9.159mn bpd in April, down by 859,000 bpd from March. To cover for the shortfall in Russia’s production, the G7 energy ministers early in June appealed to OPEC+ to ramp up production to ease the tightening international market.
Responding, OPEC+ ministers on June 2, 2022, agreed to raise their production by 648,000 bpd for the month of July and August, discarding its modest increases of 432,000 bpd scheduled for July, August and September.