Japan Considers Additional Oil Reserve Release Amid Strait of Hormuz Uncertainty

Japan is contemplating the release of an additional 20 days' worth of oil reserves as early as May. According to NS3.AI, this decision comes amid ongoing uncertainties surrounding the reopening of the Strait of Hormuz. Japan's heavy reliance on the Middle East for approximately 95% of its oil supply underscores the significance of this move. Since March 16, Japan has already released around 50 days of reserves and still maintains a reserve sufficient for 230 days.