OMV buys crude oil from emergency reserve to stabilize market, Austrian ministry says
OMV purchased 56,000 metric tons of crude oil from the mandatory emergency reserve to stabilize the market, the Austrian economy ministry said on Monday.
The International Energy Agency in March agreed to release a record 400 million barrels of oil from strategic stockpiles to combat a spike in global crude prices since the start of the U.S.-Israeli war with Iran, with the U.S. contributing the bulk of the supply.
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