G7 Releases Record Oil Reserves
Irvine News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
International Energy Agency releases record 400 million barrels from emergency reserves to mitigate market disruptions from Iran war and Hormuz shutdown. G7 nations, including Germany and Austria, pledge to release portions of their reserves, with Germany limiting gas station price hikes to once a day. Reserves, established in 1974, have been used in past crises, with officials emphasizing the importance of reopening Hormuz traffic for stability.
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