Germany's upper house clears further release of oil stocks

Germany's upper house ​of parliament on Friday ​cleared the way for ‌the further ​release of strategic oil reserves, as the government seeks to fulfil an international ‌pledge to help soothe energy markets.

In line with economy ministry plans, the vote in the Bundesrat, which represents Germany's ‌states, allows for mandatory stockpiles of crude oil and petroleum ‌products to be temporarily reduced to 82 days of supply from 90 days.