59
Japan will tap its oil reserves for the first time since 2022 as the war in the Middle East disrupts crude flows and raises the risk of supply shortages.
“Japan has decided to take the lead in easing supply and demand conditions in the global energy market by releasing reserves as early as the 16th of this month,” Prime Minister Sanae Takaichi said on Wednesday evening.
She emphasized the decision as being made without waiting for the International Energy Agency (IEA) to reach a decision on a potential coordinated release among its member nations.