Japan to Release 80 Million Barrels of Oil From Reserves

Japan will release 80 million barrels of oil from its strategic reserves as the nation and other major energy importers grapple with the fallout of the war in the Middle East.

Prime Minister Sanae Takaichi announced that Japan would go ahead with a unilateral move to free up some of its oil stockpiles in comments that came ahead of an agreement by the International Energy Agency to release a record 400 million barrels from emergency oil reserves.