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Affected by the Middle East situation, Germany plans to release some of the country's oil reserves
People’s Financial News, March 11 — On March 11, local time, German Federal Minister for Economic Affairs and Energy, Katrin Göring-Eckardt, announced at a press conference that Germany plans to release part of its national oil reserves to address the sharp rise in oil and fuel prices caused by the Iran conflict. Göring-Eckardt stated that the German federal government plans to limit the number of fuel price increases to a maximum of once per day, with the possibility of price reductions at any time. The International Energy Agency held a G7 energy ministers’ meeting on the 10th. Göring-Eckardt said that the IEA has asked its member countries to release 400 million barrels of oil reserves, and Germany plans to contribute its share. (CCTV News)