First time in Japan since 1978! Sanae Takaichi has a new move

GateUser-bd883c58 · 2026-03-12T06:18:51+00:00

Japanese Prime Minister Sanae Takaichi announced that the country will release its national oil reserves independently on March 16 to address the chaos in the Middle East and rising crude oil prices. This is the first standalone release since the reserve system was established in 1978. The government hopes to stabilize oil prices and mitigate the risk of rising commodity prices through this measure.

GateUser-bd883c58

2026-03-12 06:18:51

Abstract generation in progress

According to CCTV News, on the evening of March 11 local time, Japanese Prime Minister Fumio Kishida announced that Japan will release its oil reserves as early as the 16th. This move is in response to the chaos in the Middle East caused by attacks from the United States and Israel on Iran, and Japan will implement this measure independently. This will be the first time Japan has released its national oil reserves independently since establishing its national oil reserve system in 1978.

In addition, Fumio Kishida stated that if crude oil prices continue to rise, gasoline prices are also expected to increase. The Japanese government will take measures to ease the impact of sharp price fluctuations, aiming to keep the nationwide average retail price of gasoline around 170 yen per liter.

According to the Japan Economic News website, over 90% of Japan’s crude oil depends on imports from the Middle East, most of which are transported through the Strait of Hormuz. Due to the worsening situation in the Middle East, the strait has effectively been blocked. As the number of oil tankers arriving in Japan is expected to decrease, Japan has decided to release its oil reserves independently.

Typically, countries coordinate reserve releases under the framework of the International Energy Agency, and Japan has not previously released its oil reserves independently.

It is reported that Japan last released its oil reserves during Russia’s special military operation against Ukraine in 2022. This is the first such release in four years. The Japanese government’s move aims to stabilize the supply of oil, an essential energy source for economic activity, and to support the economy.

By the end of 2025, Japan’s oil reserves are estimated to be about 470 million barrels, equivalent to 254 days of consumption. Releasing reserves to the market is expected to ease supply concerns and may also curb price increases for various products made from oil, such as gasoline and plastics.

Source | Comprehensive

Layout | Ji Jinwei

Editor | Lai Chenlu

Proofreader | Song Jingjing

Supervising Producer | Lin Xiao, Wang Yunxia

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.