Until IEA coordination, Sanae Takaichi: Oil reserves may be released as early as the 16th

GateUser-bd883c58 · 2026-03-12T06:59:36+00:00

Japanese Prime Minister Fumio Kishida announced that in response to the rising oil prices caused by the Iran situation, the Japanese government will release the national oil reserves on March 16, planning to release both private and national reserves simultaneously. This is the first such measure in four years, aimed at stabilizing the domestic economy and energy supply, especially in the context of shipping disruptions in the Strait of Hormuz.

GateUser-bd883c58

2026-03-12 06:59:36

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According to Japan’s Kyodo News, on March 11, Japanese Prime Minister Sanae Takaichi announced that in response to the turmoil in Iran and the resulting rise in oil prices to support the domestic economy, the Japanese government will release its national oil reserves as early as March 16, and will do so unilaterally.

Takaichi stated that both private and national oil reserves will be released simultaneously, with private reserves being released for 15 days and national reserves for 30 days.

According to Japanese media reports, by the end of 2025, Japan will have approximately 470 million barrels of oil reserves, enough to support domestic consumption for 254 days. This is also the first time in four years that the Japanese government has released oil reserves.

It is reported that over 90% of Japan’s imported crude oil comes from the Middle East. Due to disruptions in the shipping route through the Strait of Hormuz, Japan’s energy supply stability has been directly threatened.

Notably, on the 10th, energy ministers from G7 member countries held an emergency meeting to discuss the global oil and gas market situation, but no decision has yet been made regarding the release of oil reserves from International Energy Agency (IEA) member countries. Kyodo News believes that after Japan’s unilateral release of oil reserves, other countries may follow suit gradually.

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