Japan starting today releases approximately 80 million barrels of oil reserves

K-LinePoet · 2026-03-18T00:57:21+00:00

The Japanese government has begun releasing 80 million barrels of oil reserves starting today to address rising oil prices caused by the Middle East situation. This is the largest release since the reserve system was established in 1978, primarily utilizing private reserves. The government also plans to resume price subsidies on the 19th to stabilize oil prices.

K-LinePoet

2026-03-18 00:57:21

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The Japanese government announced today (March 16) that it will release oil reserves to ease the rising oil prices caused by tensions in the Middle East. The total release will be approximately 80 million barrels, enough to supply Japan for 45 days, making it the largest release since Japan established its national oil reserve system in 1978. Japan’s oil reserves include both private and national reserves. According to previous reports from the Japanese government, the combined national and private reserves can sustain 254 days of supply. Since transporting national reserves from storage bases to refineries takes a relatively long time, the Japanese government has decided to first utilize private reserves. Due to the blockage of the Strait of Hormuz, which severely impacts Japan’s oil imports from the Middle East, gasoline prices have recently surged. The Japanese government plans to resume providing price subsidies to oil wholesalers on the 19th in an effort to stabilize fuel prices.

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