G7 Releases Record Oil Reserves


Author: The Daily News Now! March 11, 2026 Duration: 1:50
Podcast episode
G7 Releases Record Oil Reserves

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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