Germany will not be releasing new quantities of oil or diesel this Friday, as originally scheduled by the G7. Instead, the Federal Government plans to release the amounts it had already committed to back in March, according to a spokesperson from the Ministry of Economic Affairs speaking to Politico’s energy and climate newsletter.
The spokesperson explained that the G7 has asked the International Energy Agency (IEA) to monitor the prompt and complete implementation of commitments made for March 2026. Against this backdrop, and taking into account existing promises that have already been fulfilled, the commitments will be met through a coordinated release of 100 million barrels managed via the IEA. Crucially, the spokesperson confirmed that, as of now, no additional quantities will be released.
The 32 member states of the IEA agreed in March to release 400 million barrels from their oil reserves, a measure prompted by high energy prices resulting from the Iran War. The newly planned release from the G7 nations, however, is understood to consist of 100 million barrels of oil. The spokesperson noted that it is currently unclear how many barrels of this 100 million were promised back in March.
Regarding specifics, the Ministry of Economic Affairs spokesperson stated that details such as the specific allocation for Germany or the precise timeframe could not yet be provided, as this information is currently being reviewed. She added that, as is conventional, any release will be coordinated by the IEA and will be discussed with the individual participating countries.
