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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