Tokyo, March 16, 2026 (AFP) - Japan says beginning release of strategic oil reserves

NAMPA / AFP

2026-03-16

Japan said on Monday it was beginning the release of its strategic oil reserves after the International Energy Agency indicated earlier that the release would begin in Asia and Oceania before other regions. IEA members agreed on March 11 to tap oil stockpiles to cushion the surge in prices caused by the war in the Middle East -- by far the largest-ever response of its kind. Japan, which depends on the Middle East for 95 percent of its oil imports......

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