Japan First G7 Nation To Announce Release Of Oil Reserves As Middle East Tensions Push Prices Up

11th March 2026 at 7:01 PM

1 minute read

Tokyo : Japan will release part of its oil reserves as early as March 16, Prime Minister Sanae Takaichi said on Wednesday. Speaking in Tokyo, Takaichi said Japan plans to release 15 days’ worth of private-sector oil reserves and one month’s worth of state oil reserves to help ease supply concerns.

The move comes as global energy markets remain on edge due to escalating tensions linked to the conflict involving Iran, which has raised fears of disruptions to crude oil shipments from the Middle East. Japan’s decision follows discussions among major energy-consuming nations on possible emergency measures to prevent supply shortages and curb volatility in oil prices.

Strategic oil reserves are maintained by governments to cushion economies from sudden disruptions in global oil supply, particularly during geopolitical crises or natural disasters that affect production and transportation. The planned release is expected to inject additional oil into the market and help stabilise prices if supply flows from key producing regions are affected.

Much of the country’s oil imports come from the Middle East, making it particularly sensitive to disruptions in the region. Authorities said the release of reserves is part of broader contingency planning to ensure energy security and maintain stable fuel supplies for households and businesses.