Germany's released oil reserves nearly depleted, Economics Ministry says

Background: IEA call and the Iran war

The 600,000 tonnes consisted of approximately 400,000 tons of crude oil, 150,000 tons of diesel, and 50,000 tons of jet fuel. This volume is a small portion of Germany's total strategic reserves, which comprise around 20 million tonnes of crude oil and mineral products. As the ministry noted, "Die freigegebene Menge von 600,000 Tonnen bildet einen geringen Teil."

Germany's share of the planned international release amounted to about 2.64 million tons, but the country ultimately released only about 600,000 tons — significantly less than originally planned. Several states were to release a total of 400 million barrels of crude oil in response to the price shocks caused by the Iran war.

Reiche's position and international pressure

Economics Minister Katharina Reiche was reportedly not a supporter of the release at the time, but ultimately followed the IEA's call after the United States increased pressure on member states. The Federal Ministry of Economics emphasized that there is still no energy shortage in Germany, stating: "Das Bundeswirtschaftsministerium betonte, es gebe nach wie vor keine Energieknappheit in Deutschland."

The ministry also stressed that a large portion of the strategic reserves continues to be available: "Ein Großteil der strategischen Reserven stehe weiterhin zur Verfügung." It reiterated that the oil reserve is intended for emergencies and "nicht in erster Linie zur Preisstabilisierung."

Open questions over further releases

At the same time, the ministry left open whether additional reserves will be released. When asked directly, it did not confirm or deny any further release plans, but noted it is in close contact with industry and could quickly take targeted countermeasures. As the ministry put it: "Man sei im engen Austausch mit der Branche und könnte schnell zielgerichtete Gegenmaßnahmen ergreifen."

The episode highlights the tension between using strategic reserves as a tool for short-term price stabilization and preserving them for genuine emergencies. With the IEA-coordinated release now largely absorbed, attention is turning to whether the ministry will hold back remaining stocks for future supply disruptions or deploy them again if prices rise.