Tokyo, Japan – In a coordinated global effort to stabilize energy markets, Japan will begin releasing strategic petroleum reserves immediately, joining 31 other nations in a move prompted by ongoing conflict in the Middle East. The release is part of a larger initiative announced Wednesday by the International Energy Agency (IEA) to unlock 400 million barrels of oil, representing approximately four days of global demand.
The decision comes as the price of oil has surged, with Brent crude exceeding $100 per barrel in Asian trading Thursday, a significant increase from around $90 the previous day. The IEA stated the action is intended to counter market instability and supply threats stemming from the conflict. However, investors remain skeptical about the effectiveness of the release, according to reports.
Japan’s contribution to the effort will be a substantial 80 million barrels – a record release for the country, equivalent to 45 days of domestic demand. Prime Minister Sanae Takaichi previously indicated plans to release additional state-owned reserves, potentially covering a further month of consumption by the end of March. As of December, Japan’s combined strategic petroleum reserves, both public and private, totaled over 400 million barrels, representing 254 days of national consumption.
Government spokesperson Minoru Kihara explained Thursday that Japan is reducing mandatory private crude oil and petroleum product reserves, which will facilitate the release of a volume equivalent to 15 days of national consumption. He also noted that Japanese crude oil imports are expected to decline significantly starting at the end of March, as tankers are effectively unable to navigate the Strait of Ormuz.
Approximately 95% of Japan’s crude oil imports originate in the Middle East, and 70% previously transited through the Strait of Ormuz before the recent conflict. “To ensure that no disruption will compromise the supply of petroleum products, such as gasoline, we have decided that Japan will take the initiative of drawing on national strategic reserves, in coordination with the G7 nations and the IEA,” Kihara added.
The IEA reports that commitments currently total 172.2 million barrels from U.S. Reserves, around 110 million from Asia-Oceania (including 66.8 million from state reserves and 41.8 million from industrial reserves), and a similar amount from Europe, with one-third originating from state reserves. The agency emphasized that while this collective emergency action is a “significant and welcome buffer,” the restoration of navigation through the Strait of Ormuz is crucial for sustained stability.
The conflict is “causing the largest supply disruption in the history of the oil market,” the IEA stated Sunday. The development underscores the vulnerability of global energy supplies to geopolitical instability.
Despite calls from U.S. President Donald Trump for allied nations to contribute to a maritime security operation in the Strait of Ormuz, Japan has indicated it does not plan to participate. Defense Minister Shinjiro Koizumi stated in parliament Thursday that Japan does not intend to order such an operation. Prime Minister Takaichi also suggested that a security operation would be “extremely difficult from a legal standpoint.”
Sending Self-Defense Forces abroad is a sensitive political issue in Japan, which maintains a largely pacifist stance enshrined in its 1947 Constitution, adopted under U.S. Guidance, which renounces war. Lusa
