Japan will start to use part of its national oil reserves to ensure supply

The Prime Minister of Japan, Sanae Takaichi, announced that the country will start to make available its national oil reserves starting March 26, in response to concerns about fuel supply.

In a post on X, Takaichi emphasized that this measure comes after Japan has already turned to private reserves to ensure the necessary amount of oil for the entire country. Almost 95% of the oil consumed by Japan transits through the Strait of Hormuz, making supply security a crucial priority for the Japanese government.