Oil Reserve Release

Japan and Germany are releasing oil from their strategic reserves to counter supply disruptions from the Middle East, according to officials in Tokyo and Berlin. It’s a move that won’t surprise many, given the current tensions in the region.

What’s Behind the Move?

Don’t expect this to be a long-term solution, but it’s a start. Officials in both countries are trying to mitigate the effects of the supply disruptions, and releasing oil from their reserves is the most obvious way to do that. It’s not a perfect fix, but it’s better than nothing.