Japan considers releasing national oil stockpile
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Kyoto: Japan is considering releasing its national oil reserves amid the ongoing Iran crisis, Kyodo news agency reported on Friday.
It relies on the Middle East for around 95% of its oil supplies with around 70% coming via the Strait of Hormuz, which is effectively closed.
Tokyo holds emergency national reserves equivalent to around 146 days of consumption, while it also has private-sector stockpiles and joint stockpiles with oil-producing countries.
Representative Image
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