Japan Compensates For Disruptions In Middle East Oil Supplies

• 11.03.2026, 19:49

The country will start releasing national oil reserves as early as March 16.

The announcement was made by Japanese Prime Minister Sanae Takaichi, according to Japanese state media holding NHK.

"We have decided that the release of reserves will be made on March 16," Takaichi said.

The prime minister also said Japan plans to use private sector oil reserves equivalent to 15 days of consumption and government reserves for one month.

Japan earlier expressed support for a possible coordinated release of oil reserves by members of the International Energy Agency to slow the rise in oil prices. It signaled its readiness for such a move the previous day during a virtual G7 meeting.