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Japan to Release 80 Million Barrels Amid Rising Oil Prices

3/16/2026

34 8 Full Breakdown

Summary

Story summary

Japan will start releasing 80 million barrels from its strategic oil reserves on March 15 to mitigate supply disruptions caused by the United States–Israel conflict with Iran, reducing reserves by 17%.
The release equals 45 days of supply.
Gasoline prices are rising due to blocked shipments through the Strait of Hormuz.
Japan maintains 254 days of consumption in reserves, reflecting reliance on the Middle East for 90% of its oil.

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Story summary

Japan will start releasing 80 million barrels from its strategic oil reserves on March 15 to mitigate supply disruptions caused by the United States–Israel conflict with Iran, reducing reserves by 17%.
The release equals 45 days of supply.
Gasoline prices are rising due to blocked shipments through the Strait of Hormuz.
Japan maintains 254 days of consumption in reserves, reflecting reliance on the Middle East for 90% of its oil.