Japan PM Asks IEA to Prepare Additional Oil Release If Needed

Japanese Prime Minister Sanae Takaichi asked the head of the International Energy Agency to prepare for an additional coordinated release of oil reserves should it be required.

Takaichi was speaking to Fatih Birol in Tokyo during a visit by the IEA executive director on Wednesday. The group announced in early March that it would release a record 400 million barrels from its emergency oil reserves to help ease supply shocks and contain price spikes caused by the war in the Middle East.