Is Japan about to collapse? ! Prepare to release crude oil reserves!
On March 6, Japanese media reported that due to the worsening situation in Iran, the Japanese government is studying the release of national crude oil reserves, and it is not ruled out that Japan may independently release its reserves. If implemented alone, this will be the first time since the establishment of the oil reserve system in 1978.
Releasing crude oil reserves has usually been done by countries collaborating under the framework of the International Energy Agency (IEA). This was also done after Russia's special military operation against Ukraine in 2022. Currently, the Strait of Hormuz, an important energy transportation route, has been effectively blocked, and oil tankers cannot navigate normally. The purpose of this move is to compensate for the decline in private enterprise inventories.
Japan's total oil reserves, calculated based on consumption, can last for 254 days, of which 146 days are national reserves, 101 days are private reserves, and 7 days are shared reserves among oil-producing countries in Japan.
The Japanese government will carefully assess whether to release and the scale of the release based on the development of the situation, to deal with unexpected situations.
Original article: toutiao.com/article/1858926193300491/
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