Japan to release 7.5 mil barrels of reserve oil

US government has 715 barrel million in Reserve

"We will continue to encourage oil-producing nations to increase their output," 

Why would they increase output when they can sell their oil now twice as high?

All these sanctions will hurt Russia as much as us...

Japan will release 7.5 million barrels of oil from its emergency reserves

This seems like the obvious step to control a shortage and rising fuel prices.

Yet the LDP government announced n the preceding days massive subsidies directly to oil companies and distributors to hold down prices.

It seems like that was just another excuse for a wealth transfer from the public to Japan Inc.

It just effect for some time, long term price will go up

At least there are no more mean tweets.

Put an oil embargo on China and problem solved immediately. China has a massive strategic oil reserve anyway. Their consumption is also reduced because of their zero covid strategy.

If the other current administration in DC would re-open petroleum production in the US prices would come down and many issues would be solved. Russia holds the world hostage as long as the price escalates.

Japan is gathering information about Exxon Mobil Corp’s recent announcement to exit the Sakhalin-1 oil and gas project in which a Japanese consortium owns a 30% stake to assess the impact on the country’s energy supply.

“With the global crude oil supply and demand structure becoming unstable, the Sakhalin-1 is an important project for Japan which imports about 90% of its crude oil from the Middle East in terms of stable supply of energy,” Hagiuda said.

https://www.sabcnews.com/japan-to-release-7-5-mln-barrels-of-oil-from-reserves-says-industry-minister/

From my experience living on this planet, it is well known that the global elites

and their cabals in politics and administration only care about their own gains

rather the well being of the greater majority.

Stabilize the oil market ?

What a joke !

It's all lies !

Time for Japan to increase solar energy production on roofs in cities and on factories and do it....now!

Japan doing it's part to help stabilize prices, during an aggressive, expansionist Russia, trying to invade and conquer Ukraine, committing war crimes as we speak, increasing prices for us all, Japan and few other countries are doing the heavy lifting in releasing oil reserves to help the rest of the world. Fact

So if Japan releases from their reserves, but 90% is purchased from the Middle East, this is only hedging against an OPEC rise, not a lack of Russian imports, no?

How about, stop relying on oil ?

step 1 they will release the oil.

step 2 when relased oil will be used they will need to buy new oil.question is where and for how much?

step 3 question-what is solved at the end?

oil sellers have no reason to reduce their profits because of wish of some government.

Bikes, not Bombs!

The less we use our cars, the less we fund bombing civilians in Ukraine & Yemen.

@ReasonandWisdomNippon

lol... Japan's impact on oil prices will be like a pimple on a 600-lb sumo wrestler's behind.

Hurry up. I need to fill up my car this week.