US EditionJapan PM asks IEA to prepare additional 'coordinated release' of oil
Japan, reliant on the Middle East for 95% of its oil imports, prepares to tap government and joint reserves amid ongoing Middle East disruptions, requesting IEA readiness for further releases.
- 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.
66 Articles
66 Articles
Japan PM Takaichi asks IEA to be ready for further coordinated oil releases
Japanese Prime Minister Takaichi Sanae has asked the International Energy Agency to prepare for additional coordinated oil releases, amid growing concern over the stability of energy supplies due to the situation in Iran.
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.
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