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  • Japan to release record 15m barrels of oil as part of IEA-led action -Kyodo

Japan to release record 15m barrels of oil as part of IEA-led action -Kyodo

It will mark Japan's biggest contribution ever to the IEA-led action, Kyodo said. (AFP)
It will mark Japan's biggest contribution ever to the IEA-led action, Kyodo said. (AFP)
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07 Apr 2022 05:04:15 GMT9
07 Apr 2022 05:04:15 GMT9

TOKYO: Japan will release 15 million barrels of oil from state and private reserves as part of a second round of the coordinated release led by the International Energy Agency (IEA), Kyodo news agency reported on Thursday.

It will mark Japan’s biggest contribution ever to the IEA-led action, Kyodo said.

IEA states agreed to tap 60 million barrels of oil from storage, the director of the group said on Wednesday, on top of a 180 million-barrel release announced by Washington last week aimed at cooling prices after Russia’s invasion of Ukraine.

Reuters

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