GERMANY AND AUSTRIA TO TAP OIL RESERVES AFTER 400 MILLION BARRELS REQUESTED. (PHOTO).

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 Germany and Austria to tap oil reserves after 400 million barrels requested  Germany and Austria announced they are releasing portions of their oil reserves in response to an International Energy Agency request for member nations to collectively release 400 million barrels to help ease rising energy prices linked to the Iran conflict. Japan also said it will begin releasing part of its reserves starting Monday. The move marks one of the largest coordinated releases of emergency oil stocks in history. The previous record came in 2022, when IEA members released 182.7 million barrels following the energy disruptions caused by Russia’s invasion of Ukraine. Member countries currently hold over 1.2 billion barrels of public emergency oil stocks, along with an additional 600 million barrels of industry stocks maintained under government requirements. The release comes amid heightened tensions in the Persian Gulf, where Iran has targeted commercial ships and disrupted shipping throug...
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2023: MY FOCUS AT THIS TIME IS FIGHTING INFLATION NOT POLITICS-EMEFIELE.(PHOTO).

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2023: My Focus At This Time Is Fighting Inflation Not Politics – Emefiele 

Amid speculations that he may be running for President in 2023, Central Bank Governor, Godwin Emefiele on Monday said his focus was on solving macroeconomic challenges, including fighting inflation.

Banners of Mr Emefiele as a presidential candidate has flooded parts of the country, suggesting he might be interested in politics.

“My focus at this time is a robust monetary policy and fighting inflation which is now a global problem; building a strong financial system in an increasingly uncertain global economy,” Mr Emefiele said in a series of tweets.


 

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