Sources said on Friday the Japanese government is considering releasing its national oil reserves to prepare for possible prolonged supply disruptions amid the ongoing US-Israeli conflict with Iran.
Generally, oil releases are carried out as a coordinated effort through the International Energy Agency, but Japan may release its reserves independently, rather than as part of a coordinated international effort. If implemented, the release would be the first since the country established its national oil reserve system in 1978.
Sources reported the release of oil is intended to compensate for the decline in reserves owned by private companies in Japan and is likely to have only a limited effect on curbing the rise in prices of petrol and other petroleum products. Japan will closely examine this issue and decide whether to release national oil reserves and in what quantities.
As of the end of December 2025, Japan held oil reserves totalling 254 days of domestic consumption, including joint reserves with oil-producing countries. Government reserves, accounting for 146 days of consumption, are stored at bases throughout Japan. Released reserves may be sold to oil wholesalers in Japan to ensure stable supplies.
Shipping traffic through the Strait of Hormuz, a vital oil route, has been paralysed as military tensions in the region intensify following US and Israeli strikes on Iran late last month, raising concerns about supplies to Japan, which depends on the Middle East for more than 90% of its crude oil imports.
