Japan to tap oil reserves amid price surge
04:42, 12 March 2026
Japanese Prime Minister Sanae Takaichi said Wednesday that the government will release its oil reserves as early as Monday amid soaring crude oil prices, JIJI Press reports.
Takaichi also said that the government will keep retail gasoline prices around 170 yen per liter or lower on average nationwide.
According to the prime minister, she has instructed industry minister Ryosei Akazawa to implement emergency measures as soon as possible.
Earlier, it was reported that Tengiz oilfield had resumed output.