The G7 has instructed the International Energy Agency (IEA) to develop plans for releasing emergency oil reserves in response to market disruptions caused by the Middle East crisis. French Finance Minister Roland Lescure announced the decision in Paris, emphasizing the need for preparedness in utilizing oil reserves if necessary. France, holding the G7 presidency, is spearheading this initiative. The IEA is set to discuss the procedures for potential reserve releases at its council meeting later today.