Prime Minister Sanae Takaichi (center) at a ministerial-level meeting on April 10, Prime Minister's Office. (©Sankei/Ataru Haruna)
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On April 10, at a ministerial-level meeting on the situation in the Middle East, Prime Minister Sanae Takaichi announced that Japan plans to release additional oil reserves equivalent to about 20 days' supply starting in early May. She said the government expects continued disruptions in the Strait of Hormuz even after the two-week US–Iran ceasefire agreement, and pledged that Japan will "take every possible measure to ensure a stable supply of crude oil."
Outlook and Supply Diversification
The first release, which began in mid-March, covers a total of about 50 days' worth of supply. It draws on a combination of national reserves, private-sector stocks, and crude oil stored in Japan under joint stockpiling agreements.
The Prime Minister has already indicated that Japan's oil supply is expected to remain secure at least through early 2027. She also noted that, in addition to releasing reserves, the government is working to diversify its crude oil procurement, including increasing imports from the US and sourcing more oil from Middle Eastern suppliers that do not rely on shipping routes through the Strait of Hormuz.
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Author: The Sankei Shimbun
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