Japan will release part of its oil reserves as early as March 16, Prime Minister Sanae Takaichi said on Wednesday, as governments move to stabilise energy markets amid rising geopolitical tensions.
Speaking in Tokyo, Takaichi said Japan plans to release 15 days’ worth of private-sector oil reserves and one month’s worth of state oil reserves to help ease supply concerns.
The move comes as global energy markets remain on edge due to escalating tensions linked to the conflict involving Iran, which has raised fears of disruptions to crude oil shipments from the Middle East.
Japan’s decision follows discussions among major energy-consuming nations on possible emergency measures to prevent supply shortages and curb volatility in oil prices.
Strategic oil reserves are maintained by governments to cushion economies from sudden disruptions in global oil supply, particularly during geopolitical crises or natural disasters that affect production and transportation.
The planned release is expected to inject additional oil into the market and help stabilise prices if supply flows from key producing regions are affected.
Japan, which relies heavily on imported crude oil, closely monitors developments in global energy markets. Much of the country’s oil imports come from the Middle East, making it particularly sensitive to disruptions in the region.
Authorities said the release of reserves is part of broader contingency planning to ensure energy security and maintain stable fuel supplies for households and businesses.
Further details about the scale and implementation of the release are expected in the coming days as the government prepares to begin drawing from its reserves.
