French Finance Minister Laurent Fabius said today the EU ought to help find a long-term solution to high oil prices, which have pushed up inflation and hit regional growth.
"I do think that what can be done by our group with a view to making sure the long-term oil price is an acceptable one would be of the utmost use," he said during a debate of EU finance ministers in Brussels before their monthly meeting.
Mr Fabius did not explain what proposals he had in mind but has regularly called for closer and more regular contact with OPEC oil producer nations to try and secure a more stable price for oil, arguing that about $25 a barrel is reasonable.
The EU last year issued a strongly worded statement calling on oil-producing countries to honour their pledge to keep oil prices within a $22-$28 per barrel range.
Oil has since cheapened in the face of slowing world growth, prompting concern OPEC might renew supply cuts that last year saw crude prices soar.
Mr Fabius, confronted with further rises in French inflation in recent months, is also stepping up pressure on petrol firms in his own country.