Japan may release more oil from its reserves. The government has about 20 days' worth of oil stored. This is because the area around Iran is still not safe for ships. Japan wants to make sure there is enough oil.
The Japanese government is considering releasing approximately 20 days' worth of its national oil reserves, possibly as early as May. This decision stems from concerns regarding the continued instability in the Strait of Hormuz, even after the ceasefire agreement between the US and Iran. The aim is to stabilize the oil supply amid uncertain geopolitical circumstances.
Japan is contemplating a supplementary release of its national oil reserves, potentially encompassing a 20-day supply, slated for implementation as early as May. This measure is predicated on the assessment that the resumption of secure navigation through the Strait of Hormuz remains tenuous, notwithstanding the ceasefire accord between the United States and Iran, thereby necessitating proactive measures to bolster petroleum supply stability.