Germany may prolong oil reserve depletion

Germany is studying the extension of its partial drawdown from its national oil reserves beyond the end of summer, after temporarily reducing storage requirements in March due to supply disruptions caused by Iran's war. This discussion comes in coordination with the International Energy Agency, which approved a record oil stockpile release to address rising prices, with Germany contributing 19.5 million barrels. Currently, there is no intention to increase the amount of oil drawn from the reserve, as this is considered part of Germany's efforts to ensure energy supply stability.

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