JAPAN

Takaichi confirms release of more oil reserves next month

Japan began tapping its stockpiles, the world's largest, in March as the government looked to temper a spike in prices caused by the hit to supply from the Middle East war.

By The Japan Times

• April 10, 2026 at 4:28 AM

Takaichi confirms release of more oil reserves next month Photo: The Japan Times

Prime Minister Sanae Takaichi speaks at a ministerial meeting on the situation in the Middle East, on Friday at the Prime Minister’s Office
Threads
Email
Print
Bookmark story
Copy link
Prime Minister Sanae Takaichi said Friday that officials would release an extra 20 days' worth of oil reserves from next month.The country began tapping its stockpiles in March as the government looked to temper a spike in prices caused by the hit to supply from the Middle East war."To ensure the stable supply of crude oil, we will release starting in early May the equivalent of roughly 20 days' worth (of oil) from the national reserves," she said at a meeting held in response to the conflict in the Middle East.It will be the second release from the state oil reserves, while it has also tapped 15 days worth of private-sector petroleum stockpiles.Japan depends on the Middle East for around 95% of its oil imports.A joint reserve is held in the country by Saudi Arabia, the United Arab Emirates and Kuwait, according to the Petroleum Association of Japan.Under normal circumstances, the jointly stored crude is commercially used, but in the event of an emergency, Japanese oil companies have preferential purchasing rights.Members of the International Energy Agency agreed on March 11 to tap oil stockpiles to cushion the surge in prices — by far the largest-ever response of its kind.

KEYWORDS
oil(https://www.japantimes.co.jp/tag/oil), Sanae Takaichi(https://www.japantimes.co.jp/tag/sanae-takaichi), Iran(https://www.japantimes.co.jp/tag/iran), energy(https://www.japantimes.co.jp/tag/energy)
In a time of both misinformation and too much information, quality journalism is more crucial than ever.By subscribing, you can help us get the story right.

SUBSCRIBE NOW
With your current subscription plan you can comment on stories
However, before writing your first comment, please create a display name
in the Profile section of your subscriber account page.

Your subscription plan doesn't allow commenting
Japan team discovers why cats leave meals unfinished
Young people in Japan express lowest hopes for themselves and their country in poll
Pakistani man arrested on suspicion of smuggling 270kg of stimulants into Japan
Woman defrauded of ¥1.2 billion in largest scam loss on record in Japan
Japan’s tighter immigration controls yielding results
At 80, Yoshio Suzuki keeps chasing the possibilities of jazz
Sumo creates unity on an island famed for division
Pokemon store stabbing spotlights importance of treatment for stalkers
Please your palate with Tokyo’s international grocery stores
Beijing row highlights need for Japan to reduce cleantech dependence on China
Kabukicho: Tokyo’s ‘stadium of desire’
Why tanka poetry is clicking with a new generation
Inaka no Taiho: Chinese restaurant offers experience of ‘receiving life’
Sponsored contents planned and edited by JT Media Enterprise Division.

Nihon Hidankyo urges investment ban on makers of nuclear weapons
31 mins ago
LDP's new vision says constitutional revision 'critically needed'
1 hour ago
Futenma base's delayed relocation 'seriously'
2 hours ago
Japan lowers view of China relations amid tension over Taiwan
2 hours ago
Iranians skeptical and afraid ahead of talks on ending war
3 hours ago