Germany to Release Up to 15 Million Barrels of Oil Under G7 Plan

Germany is set to release as much as 15 million barrels of crude oil and refined petroleum products from its emergency reserves, according to Reuters. The release falls under a coordinated Group of Seven effort led by the International Energy Agency, aimed at easing fuel shortages and containing rising energy prices. The German contribution includes diesel and heating oil alongside crude, positioning the country as a major supplier of refined products to the effort.

The push reflects mounting concern over diesel availability, which is critical to transportation, agriculture, and industrial activity. By including heating oil, the plan also targets seasonal demand pressures. Germany's participation is part of a broader attempt to improve the availability of refined petroleum products across participating economies.

Under the G7's October 2 agreement, member countries committed to coordinate an IEA release of 100 million barrels of oil over four months. A substantial portion of the diesel component is scheduled to begin within the first 20 days. The group also called for coordination of refinery maintenance schedules and higher refinery utilization where feasible.

The G7 is an intergovernmental coalition made up of Canada, France, Germany, Italy, Japan, the United Kingdom, the United States, and the European Union. The reserve releases are intended to blunt supply disruptions tied to conflicts involving Iran and Ukraine.

The scale of the supply shock was underscored by the IEA's March 11, 2026 announcement that its 32 member countries would make 400 million barrels of oil available from emergency reserves in response to disruptions caused by the Middle East conflict. The agency said oil flows through the Strait of Hormuz had fallen to less than 10% of pre-conflict levels.

The coordinated releases mark one of the largest collective draws on emergency stocks in recent years, spanning crude and refined products. How quickly the barrels reach markets will depend on logistics and refinery operations across member states.