Japan’s Prime Minister Sanae Takaichi announced last Friday that Japan will release 20 days' worth of national oil reserves starting early next month. This move expands on previous actions taken since March to stabilize energy supplies and manage rising prices triggered by the Middle East conflict.

As a country that imports around 95% of its crude oil from the Middle East, Japan relies on state stockpiles and private-sector reserves, as well as joint holdings with Saudi Arabia, the UAE, and Kuwait.

This upcoming release meets an International Energy Agency agreement reached on March 11 to address global supply hits. This second state-level intervention aims to ensure a steady supply during the ongoing regional emergency.