BREAKING: Japan to release part of strategic oil reserves ahead of IEA decision

Japan will partially release its strategic oil reserves ahead of the International Energy Agency’s formal announcement on a coordinated supply response.

Prime Minister Sanae Takaichi said the country will release 15 days’ worth of private-sector oil reserves along with one month of government-held reserves, starting March 16.

The IEA is expected to announce its recommendation on a coordinated global reserve release at 1 PM GMT.