Japan will release strategic oil reserves as early as Monday, Prime Minister Sanae Takaichi said, a unilateral move by the import-dependent Asian economy to ease concerns over rising fuel prices due to the Middle East war.
Japan is the world’s fourth-largest economy and the fifth-biggest importer of crude oil, with about 95 per cent of its needs coming from the Middle East and around 70 per cent passing through the Strait of Hormuz before the conflict began.
Tokyo has been working with other…
Japan to release oil reserves as early as Monday
