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Germany to release up to 15 million barrels of oil under G7 plan

Image: Reuters. Rights remain with the publisher.

Germany will release up to 15 million barrels ‌of diesel, heating oil and crude from emergency reserves, its economy minister told Reuters on Friday, making Europe's largest contribution under a G7-backed effort to ease fuel shortages and curb soaring energy prices ​caused by the wars in Iran and Ukraine.

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Business
First reported by
Reuters
Published
Friday, 9 October 2026, 9:02 pm IST
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One outlet so far

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