Portugal among 12 EU countries to release 42.6 million barrels of oil

Twelve EU nations, including Portugal, have committed to releasing 42.6 million barrels of oil—nearly half of which is diesel—from their strategic reserves by the end of January 2027. This initiative, part of a G7 agreement to stabilize markets, aims to mitigate fuel price volatility as winter approaches, though industry representatives state there is currently no risk of fuel supply shortages in Portugal.