VOL. XL
No. 29
21-July-1997
OPEC
Germany Sells Oil Reserves To Meet EMU Target
The German Government decision to raise around DM400mn ($230mn) in 1997 from the saleof 2.8mn barrels of strategic oil stocks will release around 80,000 b/d of crude oilbetween early August and the end of the year. The move is part of the government's effortsto raise a total of DM1.35bn during the coming three years to cut its budget deficit inorder to qualify for entry to the European Union's planned single currency...
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