US EditionJapan PM asks IEA to prepare additional 'coordinated release' of oil
Japan began releasing 15 days' worth of private oil reserves and will tap government and joint stockpiles to offset supply risks from Middle East conflict, PM Takaichi said.
- Prime Minister Sanae Takaichi asked the International Energy Agency to prepare an additional coordinated oil release in case the situation with the war in the Middle East continues.
- Earlier this month, the IEA agreed to release 400 million barrels of oil from member countries' reserves to ease the impact of the Middle East war, the largest such release ever.
- Japan depends on the Middle East for 95% of its oil imports and has started releasing private and government oil reserves, with plans to also release joint reserves held by producing nations in the country.
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48 Articles
The Elkhart Truth
IEA chief says 'ready' to release more oil reserves if needed
The head of the International Energy Agency (IEA) said Wednesday that he was "ready" to approve the release of more oil reserves if needed to cushion the impact of the Middle East war on global supplies.
Energy Agency announced at the beginning of the month that Member States would release 400 million barrels of oil. But "there is still a significant amount of oil in reserves," says Bureaul.
The International Energy Agency (IEA) is ready to release additional oil reserves if necessary, according to its executive director Fatih Birol. Japanese Prime Minister Sanae Takaichi has urged the agency to do so if the war in the Middle East drags on.
The International Energy Agency (IEA) is ready to release additional oil reserves if necessary, according to its executive director Fatih Birol. Japanese Prime Minister Sanae Takaichi has urged the agency to do so if the war in the Middle East drags on.
Channel News Asia
WTVBJapan PM Takaichi asks IEA chief for further oil stockpile release
TOKYO, March 25 : Japanese Prime Minister Sanae Takaichi asked International Energy Agency chief Fatih Birol for an additional coordinated release of oil stockpiles when they met on Wednesday, as Tokyo seeks to hedge against a prolonged Middle East conflict. After agreeing to release a record amount of oil st
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