The Japanese Ministry of Economy, Trade and Industry has started preparations for the release of national oil reserves.

Japan's Ministry of Economy, Trade and Industry decides to release national oil reserves

On March 9, the Japanese Ministry of Economy, Trade and Industry has instructed 10 domestic reserve bases to prepare for the release of national oil reserves.

This measure is based on the assumption of an emergency situation: if the Strait of Hormuz is effectively blocked due to attacks by the US and Israel against Iran, crude oil supply would be interrupted. Relevant departments will also confirm the transportation system during the release.

These reserve bases are located in Hokkaido, Akita, Fukui, Kagoshima, etc., with a reserve volume equivalent to 146 days of domestic consumption.

In addition to national reserves, the private reserves of oil wholesalers and trading companies can also meet 101 days of consumer demand. A related person from the Ministry of Economy, Trade and Industry explained, "We regularly conduct release training, and this is an extension of routine training, not an immediate release of oil reserves."

Original article: toutiao.com/article/1859189898570955/

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