Japan is preparing to start releasing oil reserves held by the private sector this Monday, after the Middle East war disrupted crude oil transportation. Japan estimates that the number of incoming oil tankers may rapidly decline.
Japan’s NHK news agency reported on 15 March 2026 that the Japanese government will begin releasing oil from reserves that private companies are legally required to hold on Monday (16 March). This move aims to help stabilize the supply of petroleum products domestically following disruptions to crude oil shipments caused by the Middle East war.
Oil wholesalers and other companies in Japan are legally obligated to maintain petroleum reserves equivalent to 70 days of average daily consumption.
The Japanese government will first release an amount of oil sufficient for 15 days from these reserves, and plans to release an additional quantity equivalent to one month from government reserves thereafter.
The Ministry of Economy, Trade and Industry of Japan stated that the number of oil tankers arriving in Japan could rapidly decline starting Friday, due to Iran’s effective blockade of the Strait of Hormuz.
Meanwhile, members of the International Energy Agency (IEA) unanimously approved on Wednesday (11 March) a historic emergency release of 400 million barrels from strategic reserves.
Most recently on Sunday, the IEA confirmed that countries will begin releasing these reserves by the end of March.
Follow international news:https://www.thairath.co.th/news/foreign
Source:nhk