Japan Considers Independent Release of Oil Reserves

Japan's Minister of Economy, Trade and Industry, Ryoichi Akazawa, stated during a parliamentary committee meeting on Wednesday that the Japanese government has not ruled out the possibility of independently releasing national oil reserves, separate from coordinated international actions. According to Jin10, Akazawa emphasized that the government will take all necessary measures to ensure stable energy supply. As of the end of December, Japan's total oil reserves can meet domestic consumption for 254 days, with 146 days' worth held by the government, 101 days by the private sector, and the remainder jointly stored with oil-producing countries.