Germany and Austria to release oil reserves to stabilize prices
pre-market1 source ↓written by the desknot a recommendation
- collective release
- 400 million barrels
Germany and Austria announced plans to release parts of their oil reserves in response to surging prices amid the Iran war. This follows a request from the International Energy Agency for a collective release of 400 million barrels. Japan will also begin releasing reserves starting Monday, aiming to alleviate energy price spikes. ⚡
Not investment advice. For informational purposes only.