In a move aimed at bolstering its energy security, Japanese Prime Minister Sanae Takaichi has revealed plans to unlock approximately 50 days’ worth of oil consumption from emergency stockpiles starting in early May.
Given its heavy reliance on the Middle East for 95 percent of its oil imports, Japan has been drawing down its reserves since mid-March. As of April 6, the country’s oil reserves stood at a substantial 230 days’ supply, providing a cushion against potential disruptions.
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