September 16, 2019 / 10:07 AM / a month ago

Releasing oil reserves is joint decision of IEA- Germany

BERLIN, Sept 16 (Reuters) - The German government said on Monday its supply of oil was not affected by attacks at the weekend against Saudi refineries and any decision to release strategic reserves needed to be made jointly with members of the International Energy Agency (IEA).

“We are closely observing the situation and the oil supply in Germany is not affected at the moment,” an economy ministry spokeswoman said. “Based on the information we have and that which we have received from the Saudis, the refineries will only be shut for a few days or up to two weeks and we assume that it is not going to have a lasting effect on the global oil supply.”

She added: “A decision to release strategic oil reserves to remedy global supply disruptions must be made jointly with members of the IEA and at the moment there is no such consideration.” (Reporting by Markus Wacket Writing by Joseph Nasr Editing by Michelle Martin)

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