Prime Minister Sanae Takaichi announced on Tuesday that Japan is prepared to begin releasing oil from joint stockpiles held by producing nations within the country by the end of March. In a statement shared on the social media platform X, the Prime Minister detailed the government’s strategic response to the ongoing conflict involving Iran, which has severely disrupted the shipment of oil and natural gas from the Middle East. This move is part of a broader emergency initiative to stabilise the domestic energy market and mitigate the impact of rising global fuel costs.
Last week, the Japanese government initiated the release of 15 days’ worth of private-sector oil inventories to address immediate supply concerns. Prime Minister Takaichi confirmed that the next phase of the emergency plan involves tapping into the national state reserves starting this Thursday, 26 March 2026. This specific action will release a month’s worth of crude oil into the market, providing a significant buffer for industries and consumers currently grappling with the volatility caused by the regional war.
Japan’s contribution to the coordinated global effort led by the International Energy Agency (IEA) is set to reach nearly 80 million barrels, primarily consisting of crude oil. This represents a record-breaking release of stockpiles as part of an international strategy to maintain energy security amidst the geopolitical instability in the Persian Gulf. The IEA has highlighted Japan’s proactive role in this multilateral response, which aims to prevent a full-scale global energy shortage.
Beyond the national and private reserves, Japan also maintains access to approximately 13 million barrels of oil jointly held within its borders by Saudi Arabia, the United Arab Emirates, and Kuwait. This volume is equivalent to seven days of national consumption, and Tokyo retains priority access to these supplies during officially declared emergencies. The scheduled release of these jointly held stockpiles later this month marks the first time such an agreement has been activated on this scale to ensure a continuous energy flow.
The Prime Minister’s announcement underscores the urgency of the situation, with the phased release of reserves serving as a critical lifeline for the national economy. “We began releasing privately held reserves on March 16, and will begin releasing national reserves from the 26th,” Takaichi stated, adding that the final stage involving international joint stockpiles is imminent. The government continues to monitor the situation in the Middle East closely, prepared to take further measures if the maritime blockades and conflict-related disruptions persist.
