Japan Starts Oil Reserve Release, Asia Moves Faster Than West | WPN World People News

The Japan government announced on the 16th that it will begin releasing its Strategic Petroleum Reserves (SPR), becoming one of the first countries in Asia to respond to coordinated action by the International Energy Agency (IEA). On March 11, IEA member states reached an agreement to carry out the largest-ever release of strategic oil reserves to counter surging global prices driven by the Middle East conflict. The IEA noted that countries in Asia and Oceania would begin implementation earlier than those in the Americas and Europe, and Japan’s announcement is widely seen as the formal start of the release.

According to an official government bulletin, Japan’s domestic oil reserves are “declining,” prompting authorities to require reserve management entities to release part of their stockpiles to meet new standards. A government spokesperson confirmed that the release will amount to roughly 15 days’ worth of private-sector consumption. Japan relies heavily on energy imports from the Middle East, with about 95% of its oil sourced from the region, making it particularly vulnerable during periods of heightened tension. The move signals that Japan is now actively tapping into its reserves to ease supply pressure.

Japan holds one of the world’s largest strategic petroleum reserves, with more than 400 million barrels as of last December—enough to cover approximately 254 days of domestic demand. Under the IEA’s previously announced plan, the coordinated global action will release a total of 271.7 million barrels of government-held oil. The agency also indicated that countries in the Americas and Europe are expected to begin their releases in late March, positioning Japan and other Asian nations as the first wave of participants in this global effort.